GR301 Hanson River Project annual report for the period 6 August 2012 to 30 September 2013

Abstract

During the reporting period NT Minerals commissioned the reprocessing and merging of all available airborne magnetic data and ground based gravity data covering the Hanson River Project as well as the surrounding region (including over the Home of Bullion project). This data provides an excellent data set to finger print the geophysical response of the Home of Bullion discovery. This information can now be applied to our exploration programme and aid with identification of new targets. The Proterozoic basement geology of the Hanson River Project appears to be mostly interpreted from airborne magnetic data together with some limited historical drill information. The surface geology is mostly mapped as Quarternary cover sediments with historical drilling intersecting cover of greater than 60m in the south eastern portion of EL 29140. A review of the previous exploration over the Hanson Project area shows that due to the extensive quaternary cover almost nil surface geochemical exploration has occurred. Limited drilling has been completed as either orientation regolith drilling or as drilling specifically targeting magnetic anomalies. Reprocessing of the magnetic data by NT Minerals Pty Ltd has identified several moderate intensity magnetic liners which have not been drill tested and all of which has a similar character to the magnetic anomaly observed with the Home of Bullion copper discovery. It is recommended that further exploration be directed at targeting the potential for high grade copper mineralisation of similar style to the Home of Bullion copper discovery. Magnetic targets identified by NT Minerals Pty Ltd are recommended for drill testing via initial aircore drilling with follow-up RC drilling where anomalous geochemistry is observed.