Annual report on EL 22495 Daly River Project for the period 5 September 2002 to 4 September 2003

Abstract

The report summarises review of the entire project area. This include review of three (DR417, DR418, DR403) geophysical anomalies located within the licence area and the fourth one (DR412) adjacent into the exploration licence. The anomaly DR417 has not been confirmed by the GEOTEM survey flown in 1990, the anomaly DR418 was selected as high priority target. The sampling and drilling program has been undertaken and returned elevated values for Au, As, Cu, Pb and Zn. Further work is required. The only work carried within the anomaly DR403 has been geological mapping, ground magnetics traverses and a single line of shallow aircore drilling. This area warrants further investigation. The anomaly DR412 has been evaluated on the ground and the best results 6.3 ppb Au, 230 ppm Cu, 49 ppm, Pb and 70 ppm Zn.