2001 annual report on MCS 38 Gheko Prospect

Abstract

No exploration work was carried out during 2001. All geological data and the commodity prices for copper, zinc and lead have been reviewed. Regional geophysical data has shown that the prospect occurs on the northern margin of more of the magnetically active terrain of the Sliding Rock Metamorphics south of the Bald Hill Fault. No additional work has been completed on potential for mineralisation in the region similar to the Gheko Prospect. The small size of the deposit and continuing low price for the commodities involved were such that it was decided that the property should remain on a care and maintenance basis. No interest was shown in pursuing exploration on MCS 38 as the commodities represented in the tenement were not being explored as a target. The low grade Pb-Zn(Cu) mineralisation is stratigraphically controlled and occurs in gossanous haematite-actinolite rocks marginal to garnetiferous quartzite. The Gheko Prospect is considered to be a stratigraphic equivalent of the Rankin's Prospect mineralisation, due to the similarity of the control and the presence of similar gneisses and amphibolite in the two prospects.