EL 27240 Partial relinquishment report for period ending 8 November 2011

Abstract

Work undertaken during the period was directed by the company's exploration and regional exploration managers, and completed by specialist external consultants Company employees and contractors. Key preparatory activities involved the regional compilation of all open file and available geophysical, geochemical and geological data. This compilation has been indexed and geo-referenced with point extraction of data where required. Detailed geophysical interpretation was completed over the tenement to develop a more refined geological and structural framework with subsidiary target generation for follow-up. Field work, although delayed and restricted by abnormally wet ground conditions during 2010, included stream sampling programs, and airborne geophysics. The work produced a detailed geological/structural map, with 19 priority geophysical targets, identified a high priority base metal target requiring further ground geophysics and drill testing, and 9 catchment target areas from the helicopter supported stream sediment survey. Within the area relinquished no prospective geology, structures or geophysical targets were identified. Consequently an area of 19 blocks was relinquished.