Relinquishment report for EL 7810 'Hayward Creek', 4 April 2001 to 3 April 2006

Abstract

This Relinquishment Report records exploration work done on the relinquished portion of EL 7810 between 04 April 2001 and 03 April 2006. EL 7810 Hayward Creek 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 7810 focused on the area of the major Alexander Gravity Anomaly (Giants Reef's term) which is centred about the Stuart Highway, extending from EL 10129 through EL 10311 and north into EL 7810. This gravity anomaly is interpreted as being caused by dense, probably iron-rich, rocks and may be a favourable geological environment in which to be searching for sort of large-scale mineral deposits envisaged. 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 7810 is limited.