Combined annual report for EL 25089, EL 25090, EL 25091, EL 25092, EL 25093, EL 25094 and EL 25143 for the period 2 October 2008 to 1 October 2009

Abstract

The combined tenements currently comprising the Georgina Basin Project are EL 25089 to EL 25094 and EL 25143, with the more recently granted EL 26933, amount to nearly 9500 km2. The project is located on the southern margin of the Georgina Basin, in which a succession of limestone, dolomite, calcareous sandstones, shales and arenites is highly prospective for MVT style Zn-pb deposits. In this reporting period, detailed high-level interpretation of the gravity data acquired in the previous period contributed to modelling of the 3-dimensional form and structure of the basin, numerical simulation of fluid flow activity, and identification of faults. This was completed by April 2009. Thereafter, more than 4500 soil samples were collected and analysed using Ionic Leach and Ultra Trace ICPMS methods. The results have allowed identification of at least 4 target areas, each approximately 100 km2 in extent, in which fertile fluid activity probably occurred in the fault zones. Further work involving grid soil sampling for Ionic Leach analysis, IP ground geophysics to assess the possibility of mineralization in depth, and drilling of stratigraphic holes to determine the lithostratigraphic controls on possible mineralization is planned.