Annual and final technical relinquishment report EL 25228, for period ending 22 November 2012

Abstract

TUC Resources have held EL 25228 since 22nd November 2006, and are relinquishing the tenement at the end of the sixth year of tenure, 21st November 2012. Since gaining access to the licence TUC Resources have completed a historical review of the tenement examining existing prospects. TUC completed an initial 14 hole drill program on the Brumby prospect, the 606m program was tested a mineralised quartz reef system within folded gold prospective sediments. The extensional drilling on the main reef system was disappointing but exploration holes 500m to the north intersected oxide mineralisation on two separate reefs. In the third year of tenure TUC Resources flew a low level detailed (100m line spaced) airborne magnetic and radiometric survey. The 4,030.3 line km survey covered parts of EL 25223, EL 25224 and EL 25228. The survey revealed a number of discrete radiometric anomalies for follow up work. Subtle anomalies are located on major fault zones and in association with the uranium prospective unconformity line. Reconnaissance investigation was commenced but due to access restrictions no samples were located on EL 25228. Due to other priorities and budget restraints TUC Resources was unable to further explore the tenement in the fourth, fifth or sixth year of the tenement.