Annual report EL 27730 Murphy Project

Abstract

Tenement EL 27730 was applied for on the basis that there was good potential for unconformity style mineralisation to occur to the north of the Murphy tectonic ridge, and there is a large gravity gradient adjacent to a magnetic high. Although this concept has not been thoroughly tested, results from drilling on adjacent leases to the north and northwest suggests that the lower Proterozoic basement is not as carbonaceous as anticipated and there is in excess of 300m of Cambrian cover at this location. Therefore, the unconformity target is less attractive. Based on the negative results from diamond drilling on adjacent leases in 2009 and a GEOTEM survey to the north and west of this area, (Coggon, 2010 and Esser, 2011) flown in 2010 no further exploration was recommended. The tenement was totally surrendered in May 2012.