Year 4 Annual technical report for EL 24392 Thring Creek

Abstract

Thring Creek (EL 24392) is located 340km by road ENE of Alice Springs approximately 24km east of the company owned Molyhil W-Mo Project on EL 22349. Molyhil is a magnetite-rich skarn that has a bulls eye shaped aeromagnetic anomaly associated with it. Previous exploration has suggested that aeromagnetic anomalies over the Thring Creek tenement represent similar magnetite skarn bodies to that found at Molyhil. The decreased potential for economic molybdenum and tungsten mineralisation together with the age of the tenement led to the southern half being surrendered in Year 4. No ground disturbing exploration activity was under taken during 2008-2009 other than reconnaissance work and field checking of open file data due to a severe economic downturn and cessation of all exploration activities relating to molybdenum and tungsten mineralisation. The Ultraviolet prospect is considered to be worthy of further trenching and reconnaissance drilling due to the presence of scheelite in magnetite skarn noted in the area in an old exploratory hand dug pit.