Fourth annual report on Poision Creek Project 13 February 2011 to 12 February 2012

Abstract

During July 2011 consulting geologists Kastellco Geological Consultancy conducted a review of existing historical exploration data within the Northern Territory Geological Survey Database. This was conducted for all the Project areas to identify any high potential base metal and uranium exploration targets and resulted in the identification of several targets that warrant further work. Work during this term included literature searches and data base compilation. Open file company reports were obtained from the Northern Territory Geological Survey and a review of past exploration data and geological concepts undertaken. Airphoto interpretation has identified geological and structural features for ground reconnaissance. EL 26100 represents a greenfields exploration play for principally iron deposits of varying genetic styles. The tenement is also considered to have potential to host base metal and potentially gold mineralisation. Past exploration has comprised of exploration to identify 'Tennant Creek type ore bodies'. Rock chip sampling from previous explorers also identified six outcropping ferruginous (lateritised) siltstones within a kilometre of the Gidyea Prospect which lies to the west of EL 26100. Gidyea 2 assayed 1.17ppm gold and Gidyea 6, 0.36 percent cobalt and 0.13 percent copper. The targeting was undertaken at a high level to identify areas of interest that stand out in the regional re-interpreted geophysical data. Historical prospects were reviewed to determine the effectiveness of the previous exploration and evaluate remaining potential within the Exploration Licence area. Through detail interpretation of airborne magnetic from the Northern Territory Geological Survey, magnetic anomalies were identified. The project areas has been shown to contain a number of clusters and linear first and second order magnetic anomalies which have never been investigated in great detail.