Fourth annual report, 29 August 2004 to 28 August 2005, EL 8882 Greenbush

Abstract

EL 8882, Greenbush forms part of an an area that was originally refered to as the Bluebush Project Area. The area was acquired by Giants Reef Exploration Pty Ltd to search for large scale base metal deposits on the basis of the the large Bluebush Gravity Anomaly which is centred in the eastern part of the EL, and covered by adjoining Exploration Licences. The presence of prominent magnetic anomalies and a series of major north west trending fault places EL 8882 as a moderately ranked target area in terms of its prospectivity potential. With the subsequent completion of mining activities at the Chariot Mine, Giants Reef will focus its attention on expanding grassroots exploration into areas such as EL 8882. This report records the exploration work done on EL 8882 during its fourth year of tenure, from the 29th August 2004 to the 28th August 2005. Work during the year included retrieval and inspection of diamond drill core from holes ADL405 and BBRD002 and reconnaissance field trips to inspect each of the drill sites. This work was undertaken to ascertain the extent of alteration and to determine whether additional sampling is warranted. Field trips were also undertaken to investigate the Explorer 81 and 15 targets which correspond to prominent magnetic anomalies. Work on EL 8882 was limited during the year due to the Company's commitments on higher priority exploration and drilling programs in the Eldorado-Comstock, Chariot, Peko and Northern Star mineralised corridors. Extensive development drilling was also carried out at the Malbec, Chariot and Cat's Whiskers mines.