Year 2 Annual report Elkera EL 27842

Abstract

NRE has carried out a detailed geological assessment of EL 27842 during the second term. NRE?s exploration program for the second term of EL 27842 consisted of historic exploration review, completion of a helicopter assisted reconnaissance program and rock chip sampling associated with a geological mapping program over the area. NRE?s exploration activities in relation to this tenure have found an interesting occurrence of ironstone which is anomalous for base metals (Cu, Pb, Zn, Mo, P, U and V). It is favourably located over structural position at a geological terrain boundary between basement Proterozoic and Georgina Basin. The mineral prospective area within this tenement covers the whole tenure as this tenure currently consists of only 10 sub-blocks. During the next 12 month period, NRE intends to review previous surface geochemical data in relation to the area, reprocess aeromagnetics and ASTER. If further assessment of the EL proves encouraging, NRE intends to design a surface geochemical survey with multi-element lag sampling.