Annual report for period ending 17 March 2006 EL 23568 Edith River

Abstract

During the twelve month period to March 2006, historic geological compilation, data review and reconnaissance rock chip sampling were conducted to define and outline the extent of historical exploration over EL 23568 area through open file exploration report searches. It aimed to construct a GIS database outlining historic mineralised trends, geophysical anomalies, interpreted aeromagnetics/geology and geochemical surveys. It also identified follow up geochemical targets for gold mineralisation and compared tenement area with known gold/uranium deposits within the region. Recommendations were made for follow up work on the most prospective areas, based on gold/uranium assays data, any magnetic anomalies and potential mineralised structural trends. Historic exploration within the tenement area has largely concentrated on surface sampling with encouraging results not adequately follow up. Numerous regional targets defined from aeromagnetics/radiometric have not been tested and are considered excellent potential for the discovery of significant structurally controlled uranium/copper and gold mineralisation within the tenement. Structural interpretation from detailed ground radiometric/magnetic surveys should be completed over major structural areas to delineate the highly brecciated fractured zones which may hosts very high grade ore shoots. Rock chip results were significant with copper peaking at 2.8% Cu plus 0.53g/t gold and 237.96 ppm uranium. Further fieldwork, including detail follow up regional geophysical surveys and further geochemical sampling is recommended. First pass RAB drilling at closely spaced intervals would be required to test the bedrock anomalism at depth along highly anomalous geochemical zones.