Fifth annual report on EL 23921 Mt Goyder, period ended 17 December 2008

Abstract

During the fifth year of tenure, radiometric prospecting with hand held scintillometer was carried out; 21 rock chip samples were collected and an airborne EM survey (30 line km) was undertaken at 333m line spacing (infill survey as part of Geoscience Australia's Pine Creek EM Program). Rock chip results are included however it is not known if the airborne program has been fully completed. EM data are not expected until mid 2009. RC Drilling was completed over 2 magnetic anomalies on the western fringe of Mount Goyder intersecting massive sulphide mineralisation with anomalous uranium in six of eleven holes drilled for 810 metres. Drill samples were submitted to NTEL in Darwin for assay but have not yet been received. 19 RAB holes were drilled on the northern and eastern fringe of Mount Goyder targeting magnetic anomalies in the hornfels zone surrounding Mount Goyder. A further 9 RAB holes were drilled into a magnetic anomaly in the far west of the tenement. Total meterage drilled in the 28 holes was 646m. Assay results have not yet been received. Best rock chip results were 6030ppm Cu in MB08065 from an iron rich outcrop on the track near Anomaly 1 and 183ppm Co in sample 122006 taken to the north west of Anomaly 1. Sample MB08103 from the western edge of the tenement returned 3160ppm Zn from a massive hematite outcrop. Nine petrographic samples from RC drilling have been submitted for detailed petrographic analysis but a report is also yet to come back.