First annual report on EL 10079 Settlement 1 May 2003 to 31 May 2004

Abstract

This report records exploration undertaken by Giants Reef Exploration on EL 10079 Settlement, for the period from the 1 May 2003 to 31 May 2004. Targets are ironstone-related gold-copper deposits in the Warramunga Formation of the Tennant Inlier. No geophysical modelling has been completed by Giants Reef on the magnetic anomalies identified in EL 10079. Preliminary research and assessment has shown that these anomalies are one of a number of anomalies of similar intensity along a subtle east-west 'magnetic ridge'. Mining has recommenced at the Edna Beryl mine, located just southwest of EL 10079. This will aid in greater geological understanding of the area, and generate significant interest in the vicinity. At present Giants Reef are actively seeking a partnership which will focus target generation and exploration over EL 10079.