Second annual report for exploration licence 9427 for the period 13/5/97 to 12/5/98 Tennant Creek District, Northern Territory, Piz Gloria Prospect

Abstract

Evaluation of acquired aeromagnetic and radiometric data indicated a radiometric anomaly in the NW and a magnetic anomaly in the east, both anomalies were tested of vacuum drill holes drilled along grid lines. Results of the eastern area were low peak Au was 13ppb. The NW drilling intersected a 0.6ppb Au value with coincident anomalous Bi (63.1ppm), Co (19ppm) and intersected quartz veining within silicified siltstone. This area will be further assessed with drilling.