First annual report for EL 26434 period ending 10 January 2009

Abstract

Acacia Minerals PL have successfully carried out the year's planned exploration on EL 26434. Anomalous values in Cu, Co, Ni, Pt, Pd and Rh have been returned from gossan and or soil samples. The presence of the Cu, Co, Ni trio in the Whites Formation - Coomalie Dolostone environs can be expected in the RJMF. However the added presence of anomalous Pt, Pd is interesting. Pt and Pd were reported from the Sargents Prospect on the east flank of the Waterhouse Complex in the 1980s from deeply weathered tremolitic carbonates. The anomalous values in the other elements listed in 8.1 strongly suggest that there have been significant mineralising events in the stratigraphy within EL 26434. Assay results from the soil sampling to date are not as dramatic as those from the surface gossan samples. Nevertheless several soil samples did return moderate yet significant Cu, Co, Ni, Pb and Au values. (No Pt, Pd or Rh assaying was done on soils) Assay results from Phase 2 are awaited. The interpreted narrow dolerite dykes as shown on the NTGS 2003 RJMF map (Lally 2003) may well be the reason for the presence of the anomalous Pt, Pd and the Rh is universally associated with platinum group elements. The Cu, Co, Ni values may or may not be related. Unweathered samples of the rocks (dolerite dykes?) containing the elevated values of the base metal and platinum group elements must be sourced to properly test this prospect.