Sixth Annual and final report for EL 24645

Abstract

During 2007 LCR geologists conducted a desk top study of the area involving the collation and review of previous exploration activities. LCR focused on having the radiometric and magnetic data previously flown by the Australian Geological Survey reworked and reprocessed by GeoDiscovery Group. Initial ground reconnaissance work was undertaken as well. Alex Teluk from Rob Search Australia Pty Ltd was contracted to prepare an independent Geological Report for the Lagoon Creek Tenement package within Benmara and Calvert Hills. This was used to help focus exploration targeting for the forthcoming field campaigns. In 2008, field work was undertaken with an initial focus on geological outcrop mapping running alongside a stream sediment, soil, and rock chip sampling program. Additionally, a scintillometer (radiometric) survey was completed over potential targets. The focus in EL 24645 was to concentrate sampling in two specific areas to test for potential mineralisation associated with the intrusive Nicholson granite complex. The fieldwork was carried out in August 2008 by a 6-man team over a period of 12 days. During 2008, The Aboriginal Areas Protection Authority, on behalf of Lagoon Creek Resources, conducted a search within the area in order to identify any areas of significant cultural importance to Traditional Landowners. During 2009 work was curtailed due to the uncertainty for corporate financing resultant from the Global Financial Crisis. A MMP was lodged and drilling scheduled for late in 2009 to test upper Westmoreland unconformity targets. This drilling was postponed due to access difficulties caused by wet conditions. A further 6 soil samples were taken from the vicinity for reference purposes Switzer Geological Consultants undertook a desktop study of EL 24645. The study involved an interpretation of the existing geological data and UTS airborne magnetic survey to interpret the covered Westmoreland - Siegals unconformity and the basal Westmoreland unconformity and fault geometries. Work by Predictive Discovery to November 2010 consisted of geophysical data analysis, gravity surveys and geological mapping. This was focused on obtaining the required information in order to plan drilling for concealed Westmoreland-style targets beneath Cambrian and Recent cover in the northern half of the EL. Ground gravity surveys were conducted on two selected target areas. These were designed to provide another potential field data set to complement the existing high resolution aeromagnetic data in order to enable construction of representative 3D models of the geology in the target areas. Examination of this data by Predictive Discovery's geophysical consultant, Bob Smith, has indicated that magnetic remanent effects are strong. The purpose of the survey was therefore to use a different method to help interpret the location of high density dolerite and/or Siegal Volcanics and determine the shape of their contacts. Geological mapping was conducted by Mark Winterbotham of Satellite Mapping, a Cairns-based consultancy, and the ground gravity survey by Haines Surveys Pty Ltd, based in South Australia. Work completed by Predictive Discovery from November 2010 to November 2011 consisted of drill target selection, drilling and assay. A total of 12 holes were drilled and 66 samples were assayed. All drilled samples were measured for radioactivity. No mineralisation was detected. Due to no significant anomalous values of uranium or gold being detected, LCR are relinquishing EL 24645.