EL10017 Stoney Dam, Relinquishment report, 20 March 2001 to 19 March 2006

Abstract

This Relinquishment Report records exploration work done on the relinquished portion of EL 10017 between 20 March 2001 and 19 March 2006. EL 10017 Stoney Dam was acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. Exploration on the relinquished portion of EL 10017 focused on the western extensions of a number of vacuum gold anomalies delineated in the adjacent tenement (EL9909). The discovery of the haematite-magnetite Chariot deposit in 1998 has shown the potential for variations on the classic magnetite ironstone hosted gold +/- copper deposits, where lower order magnetic anomalies, plus gravity methods can define new targets. Discoveries by Giants Reef of mineralisation such as at Malbec West, Marathon and Billy Boy further support this, however Giants Reef considers the potential for the discovery of mineralisation in hematite dominant ironstones in the relinquished portion of EL 10017 is limited.