Third annual report, 29 August 2003 to 28 August 2004, EL 8882 Greenbush

Abstract

EL 8882, Greenbush is in the Bluebush Project Area and was acquired by Giants Reef Exploration Pty Ltd to search for large scale base metal deposits possibly associated with the Bluebush Gravity Anomaly centred in the eastern part of the EL, and covered by adjoining Exploration Licences. The majority of the Bluebush Project Area is within EL 8882 and EL 8883, but adjacent smaller EL's 9309 and 10402 also cover a portion of the Bluebush regional gravity anomaly and are therefore included in the Project Area. This report records the exploration work done on EL 8882 during its third year of tenure, from the 29th August 2003 to the 28th August 2004. Giants Reef recognises that the Companies primary interest is currently within the traditional Tennant Creek goldfield, and presently do not have the personnel to explore the Licence area. For this reason Giants Reef chose to pursue a Partnership or Alliance for exploration over the Licence area and surrounding tenure. Currently interested parties are reviewing the supplied data for EL 8882 (and respective tenements) by reprocessing and re-evaluating the data with the view to establishing a Joint Venture. Giants Reef envisages that once a Partnership or Alliance is established, exploration within the Licence area will initially be focussed on target generation. If target generation and subsequent modelling results are encouraging, then individual anomalies will be tested by drilling.