EL 8882 Greenbush First annual report 29 Augsut 2001 to 28 August 2002

Abstract

Kelly 1:100 000 scale map sheet. The Licence was granted to Giants Reef Exploration Pty Ltd (Giants Reef) on 29 August 2001 for a period of 6 years. EL 8882 is in the Bluebush Project Area, which also includes EL 8883, EL 9309, EL 9904 and EL 10402. The Bluebush Project Area is one of four such Project Areas flanking the Tennant Creek mineral field being explored under the terms of Giant Reef's Alliance with Billiton Exploration Australia Pty Ltd. Under the Alliance, Billiton acquired approximately 7% equity in Giants Reef, in return for funding the exploration being conducted by Giants Reef. During 2001, Billiton's parent company merged with BHP to form BHP Billiton. This report records the exploration work done on EL 8882 during its first year of tenure, from 29 August 2002 to 28 August 2002. Targets are very large base metals deposits or base metals/precious metals deposits. EL 8882 is subject to a Deed for Exploration signed on 10 August 2001 between the Native Title holders of the region, represented by the Central Land Council, and Giants Reef. A great deal of exploration was carried out on EL 8882 and surrounding tenements leading up to and during the first year, with a majority of work being done on EL 8882. The work included reconnaissance, ground water sampling and analysis, obtaining clearances from the local Native Title holders to conduct field activities, analysis and modelling of aeromagnetic data, a detailed helicopter-borne gravity survey followed up by ground traverses, shallow RC drilling of residual gravity and magnetic targets, assaying, petrographic studies, and assessment of the results. Studies and modelling of the aeromagnetic data located and defined a large number of magnetic sources and structures within EL 8882. In conjunction with the new gravity survey data, the magnetics interpretation contributed to the process of shallow RC drill site selection. The detailed helicopter-borne gravity survey over the Bluebush gravity anomaly re-shaped the anomaly and decisions on where to conduct the shallow RC drilling were largely based on selecting residual anomalies from this new gravity information. Low order copper anomalism identified in holes BBRC006 and BBRC020 may just possibly suggest other, perhaps more intense, mineralisation somewhere in the vicinity of these two holes however this is purely conjectural and substantial drilling would be required to confirm this. Ground waters sampled throughout the Bluebush gravity anomaly area and Explorer's 15 and 81 are initially seen as inconclusive however a detailed assessment of the data has not been completed. Petrography and the overall geochemistry of RC chip specimens collected from EL 8882 suggested that most lithologies intersected represented mafic intrusions and felsic volcanics from an intraplate extensional environment. The geological and geophysical knowledge of the region has been greatly improved from work completed this year, and there remains some scope for developing further exploration programs in this area.