Annual report for EL 24138 for the period 8 October 2011 to 7 October 2012

Abstract

Sipa conducted an aeromagnetic survey with 50m line spacing and 216.5 line km on EL 24138. Whilst the survey was planned for July 2011, it was delayed by mustering activity on Phillip Creek Station. The survey finally commenced on 22 September 2011 in the previous reporting period and was completed, processed and interpreted in this reporting period. Importantly, the magnetic survey has identified a number of magnetic anomalies. Some of these anomalies may be stratigraphic, but a number also appear to relate to structures. There is also at least one anomaly which appears to be of the classic 'bulls eye' Tennant Creek style which hosts the majority of copper-gold mineralisation in the field.