Annual Report for EL 24998 Year 1 to 31 July 2007

Abstract

Finching Pty Ltd became operator of the joint venture and conducted a review of industrial mineral potential as well as organizing and completing a detailed 5038 line kilometre airborne magnetic, radiometric and digital terrain survey over this EL and EL 24882 (See Report CR 2007-0181). The abundance of indicator minerals naer the Eastern margin of EL 24998 led this author to believe that Devonian diamondiferous kimberlitic pipes (such as Merlin) could have intruded up major fault lines located by seismic, and then may have been covered by shallow cretaceous limestone with an average cover thickness of 50 meters. It was therefore decided to fly low level aeromagnetic centred on the seismic fault location and accompanying gravity high. The objective would then be to process data in the hope of identifying pipe like bodies associated with structure. An album of geophysical images has been prepared by Southern Geoscience Consultants which is being used at the time of writing to determine whether sufficient dipolar or discreet magnetic anomalies associated with structure should warrant drill investigation in the second year of tenure.