Annual report for EL 6929 for the period 10 August 1992 to 9 August 1993 Kiaora Prospect

Abstract

This report details work undertaken by Poseidon Gold Limited on Exploration Licence 6929 (Kiaora Prospect during the period 10 August 1992 to 9 August 1993. EL 6929 consists of four graticular blocks located approximately 17 kilometres east of Tennant Creek. The licence was originally granted to Peko Wailsend Operations Limited ('Peko') in 1990. In June 1991 Poseidon Gold Limited acquired EL 6929 as part of the purchase of all exploration and statutory reporting responsibilities. Work completed by Poseidon Gold Limited during this report period included: Surveyed gridding of approximately 50 percent of the licence area; A regional vacuum drilling geochemical programme, comprising 426 holes; Limited reverse circulation drilling of the Dragonfly Prospect; Mapping and rock chip sampling of a shear zone adjacent to the Kiaora Mine workings. Encouraging geochemical results have been obtained from the vacuum drilling. Further work will involve a thorough interpretation of the geochemical data, geological and structural mapping, infill vacuum drilling and RAB drilling of targets generated from this programme.