Annual report for EL 24103, Huckitta Project, for the period ended 9 September 2005

Abstract

The Huckitta Project comprises 11 tenements for 12,241 square km and is situated between 200 and 300 km east of Alice Springs. This annual report documents the work completed on the Exploration Licence 24103. The project is a joint venture between BHP Billiton and Sumitomo Metal Mining Oceania Pty Ltd, with BHP Billiton managing the exploration work. The northern portion of the project area contains outcrop of the Strangways Metamorphic Complex, with the southern portion overlain by the Mesozoic Eromanga Basin, and in the EL 24103 area, the Amadeus Basin. Exploration is focused on discovery of Iron Oxide Copper Gold (IOCG) mineralisation associated with the Proterozoic basement rocks beneath more recent Proterozoic and recent sedimentary cover. Work on the project during 2004-2005 included ground gravity on Exploration Licences 22516, 23997 and 24000 following up targets generated by the FALCON(tm) airborne gravity survey flown in April 2004. Owing to the lower potential of EL 24103, work has been limited to geological compilation and interpretation.