Combined first annual report on EL 23496 Bauhinia Creek Pastoral NW and EL 23497 Bauhinia Creek Pastoral SE, for the period 4 July 2003 to 3 July 2004

Abstract

Exploration Leases 23496 'Bauhinia Creek Pastoral NW' and 23497 'Bauhinia Creek Pastoral SE' cover a combined area of 462.27km2 and are separated by the lease application for EL 23290. The leases are located within the McArthur Basin near the Gulf of Carpentaria, Northern Territory, approximately 97 km northwest and 85km west of Borroloola respectively, on the Mount Young and Bauhinia Downs 1:250,000 map sheets. Anglo American Exploration (Australia) Pty Ltd was granted the leases on 4th July 2003 for a period of six years. The leases form part of a major exploration program that AAEA is undertaking in the Batten Trough of the Northern Territory. The exploration target is sediment hosted massive sulphide Pb - Zn deposits of the McArthur River style. The Batten Trough sub-basin remains a quality 'grassroots' exploration target that Anglo American Exploration (Australia) Pty Ltd intends to test as part of their larger Batten Trough Project. During the first year of the lease work conducted has comprised of a review of all previous exploration in the Batten Trough dating back over 40 years, reinterpretation of this data and selection of suitable target areas with the potential to host 'world-class' orebodies. This has involved data gathering and review, geoscientific desktop studies, organising ground access and logistical preparation for the current field season. 2004 field activities have been delayed until June due to an excessively long wet season; this fieldwork had originally been planned for April.