Annual report 16 February 2012 to 15 February 2013 EL 28184 Cow Creek

Abstract

Exploration work for phosphate mineralisation was carried out on EL 28184. The EL was deemed prospective due to similarities in the geology with that hosting recently discovered phosphate mineralisation in the Cambrian Georgina Basin of the Northern Territory. Work carried out during the reporting period included a 20 hole regional exploration drilling program on EL 28184. Drilling at the Larrimah Project intersected significantly anomalous phosphate mineralisation in a stratigraphic setting analogous to known major phosphate deposits in the Georgina Basin. Phosphate mineralisation appears to be hosted by a zone of weathered clays, siltstones and cherty silcrete, located at the top of the Cambrian carbonate sequence. Significantly anomalous phosphate mineralisation was intersected at the top of the Cambrian sequence in a number of holes on EL 28185, with a best intercept of 5m at 1.97 percent P2O5 in LAC020. Intersections of phosphate mineralisation deepen towards the south. While no economic grade phosphate intercepts were obtained, the widely spaced, grass roots nature of the drilling program means that sufficient potential remains for the discovery of economic phosphate mineralisation that should be tested by further drilling.