Annual report on EL 10321 January 2004 to December 2004

Abstract

This report covers activities conducted on and for the tenement from January 2004 to December 2004. The tenement area is underlain throughout by the Lower Proterozoic Burrell Creek Formation and consists of a grey-wacke to mudstone suite representing a series of cyclic turbidity events throughout the Finnis River Group de-positional history. Two prospects were located by the previous lessees. The first was extensively drilled resulting in approximately 2 g/t of Au. and 2% lead. The second was the southern end of the tenement, showed scattered gold occurrences edging into the adjoining EL 6966 and now named the Joyce Prospect which is being prepared for bulk sampling. This second prospect requires further sampling and drilling to finalise its true worth as a prospect.