Combined final report for EL 27398 and EL 27404 12 January 2010 to 1 March 2011

Abstract

The Northern Territory Base Metals project is located approximately 580km South/South-West of Darwin and was comprised of the granted tenements EL 27398, EL 27399, EL 27400 and EL 27404 covering a total area of 6041.55 square kilometres. The area is highly prospective for base metal mineralisation due to its unique geology; the interaction of the Cambrian aged Antrim Plateau volcanics and the underlying Limbunya group lithologies, and its similarity to the Norilsk style Cu-Ni/PGE deposit which is being used as the exploration model. Due to this the area has been the focus of numerous reconnaissance and explorative activities in the past and present. EL 27398 and EL 27400 are located across numerous pastoral leases and were acquired as part of the project. For the first year in-depth literature reviews of available data and online magnetics were undertaken to determine the viability of each individually. After review Spitfire has decided to surrender EL 27398 and EL 27404, due to no discernable potential for mineralisation, in order to free up company resources to focus attention on the remaining licences due to noticeably higher magnetic anomalies.