Annual technical report for EL 24194, EL 24427 and EL 24739 Indiana Project 1 February 2010 to 30 January 2011

Abstract

Exploration activities this year focussed on a review of the prospectivity of the tenement and field checking of extensive linear VTEM anomalies identified previously by Mithril in the southern half of EL 24194. These linear anomalies were previously placed as a lower priority due their extensive nature but the discovery of the Basil Cu-Co sulphide mineralising system just to the south resulted in a rethink as to the priority of these conductors. A review of the project resulted in highlighting a number of areas requiring further work as a priority. This is summarised in report form in an internal memorandum. A total of 20 rockchips were collected and sent to ALS laboratories in Alice Springs for preparation and then to Perth for analysis. Samples were submitted for 36 elements using the ICP-MS61 method and FA25 was used for Pt, Pd and Au. In addition two samples were sent for petrographic examination. Iron and manganese rich float was identified at a number of locations proximal to VTEM anomaly IVT049 with assays returning up to 0.19%Cu and over 0.2% Ni. However manganese was highly elevated and the anomalous metal values may be attributed to scavenging. No graphite was noted in the field or in the petrology samples (taken from near IVT049).