Final report for MCC 285 and MCC 286, 8th July 1989 to 7th July 2004

Abstract

This report records the exploration work carried out on Mineral Claims C285-C286 Frontignac - Explorer 30, during their 15-year term from the 8th July 1989 to the 7thJuly 2004. Mineral Claims C285-C286 are located approximately 15km east southeast of the Tennant Creek town. MCC 285-C286 have previously been explored and reported as part of the Grand Central Joint Venture Agreement, between GeoPeko and North Flinders Exploration. Mineral Claims C285-C286 were granted to Peko Wallsend Operations Ltd (Peko) in 1989. North Flinders Mines Ltd entered into a joint venture with Peko on 22 March 1991 North Flinders Mines renamed the Mineral Claims, Frontignac. Normandy Tennant Creek then acquired the Mineral Claims and these were then acquired by Santexo, a subsidiary of Giants Reef Mining Ptd Ltd, in 2002. Explorer 30 was identified in the 1970's by GeoPeko from a regional aeromagnetic survey data. A ground magnetic survey was carried out in 1988 by GeoPeko. GeoPeko modelled the Explorer 30 magnetic target at 500m depth and drilled two diamond holes to test the target. No ironstone was intersected and GeoPeko concluded that the magnetic anomaly was adequately explained by disseminated magnetite in sediments. Exploration by NTC involved a detailed airborne magnetic survey in 1998. Review by NTC of the 1998 magnetics indicated that the Explorer 30 magnetic target would be approximately 200 m SE of the GeoPeko drillholes. On acquisition of the Claims in 2002, Giants Reef assessed the exploration potential of the prospect and ranked the Claims as having no exploration potential or strategic value to the Company.