Fourth year relinquishment report for EL 10203 'White Hill Bore', 17 June 2004 to 16 June 2005

Abstract

Exploration Licence 10203 White Hill Bore, is located 18km northeast of Tennant Creek. The Licence was acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to follow up on information received from the CSIRO concerning samples of groundwater taken in 1988 from a cattle station water bore in the area (White Hill Bore) that were highly anomalous for gold. An assessment of the White Hill target during the year concluded that there was not sufficient encouragement to support the proposed drilling program which was aimed at testing the granites in the vicinity of the White Hill Bore. The assessment did however highlight a moderate magnetic anomaly (Anomaly A) which warrants further investigation and geophysical modeling. This report records the exploration work completed on the portion of no continuing interest (the relinquished area) of EL 10203 to the end of the forth year of tenure, on the 19th March 2005. After an assessment of the geology and geophysics over the Licence area it was concluded that the area showed minimal gravity and magnetic structures to warrant retaining the full Licence area for another year. Hence the recommendation was to fulfil the statutory relinquishment. Whilst Giants Reef Exploration did complete a review of the company's data base with that of old geological records, no on-ground exploration was preformed on the Licence area.