Second annual report on EL 9421; 13-05-1997 to 12-05-1998

Abstract

The tenement was covered by detailed aerial magnetic and radiometric surveys as well as a detailed gravity survey. The data obtained from the geophysical surveys was interpreted to define basement geological domains within the tenement area and the major fault zones which separate these domains. The basement geological domains (Warramunga Formation, Flynn Subgroup and granitoid intrusives) are bound by NE and NW trending major faults, intrusive contacts and unconformable stratigraphic contacts. One area within the tenement includes a number of magnetic anomalies interpreted to be hosted by Warramunga Formation sediments. These anomalies are considered to potentially represent ironstone alteration systems, prospective for Au-cu deposits of the Tennant Creek style. A single RC hole was designed to test the shallowest target within this anomaly cluster. This hole was abandoned at 216m due to difficulty in drilling as was the second attempt at 34m. The anticipated depth required to test the anomaly was 380m. Lithological logs of the drill holes are provided, however assay results were not available at the time of reporting and hence they are included in the third annual report. Assay results did not exceed background values, with Au peaking at 4ppb and Cu at 27ppm.