Annual report for EL 24142 'Mt Ringwood', for the period 4 October 2004 to 3 October 2005

Abstract

The exploration of El 24142 situated northeast of Adelaide River has been significantly advanced by the limited programs carried out during the first year of the licence. A review of historic exploration reports and regional geoscientific database and publications was undertaken to assess the occurrence in the area of features regionally associated with gold mineralisation. This indicated that: The EL is entirely situated on rocks favourable for gold occurrence. Major structural features regionally associated with gold mineralisation, not only traverse the EL, but intersect within its boundaries. Gold deposits of sufficient magnitude to attract the attentions of early miners are situated in close proximity to the EL boundary, and are controlled by above-noted structures. The area is historically under-explored, and transported alluvial cover provides a mechanism whereby even substantial gold concentrations may have eluded discovery. Initial field reconnaissance provided the opportunity to: Establish relationships with relevant pastoralists. Examine and confirm terrain, assumptions regarding regolith and access conditions. Inspect outcrop areas and gold occurrences in close proximity to the EL.