GR214 Daly Waters Project Annual Group Report 14 September 2012 to 13 September 2013

Abstract

NRE's exploration program for the third term consisted mainly of compilation of data obtained from the extensive range of activities NRE conducted during the second term which included drilling, heavy mineral sampling, XRF analysis of drill core samples, ground geophysics and various samples sent for analysis. NRE spent considerable amounts of time analysing the result of these activities to reach the conclusion that the rocks and ground conditions would be suitable for a larger ground survey over the target area. As this was going to result in significant time and costs for NRE, NRE proceeded to engage with a third party explorer in the region who had already conducted a ground survey with the goal of entering into a Data Exchange Agreement. NRE entered into a Data Exchange Agreement which has resulted in great benefits for both parties. It has also saved considerable time and money for both parties by exchanging the information between them and adding to their understanding and interpretation of the region and assisting them in reaching their exploration goals. Upon receiving the data consisting primarily of a ground magnetic survey conducted sometime prior by the third party, NRE was able to integrate this newly acquired data with its current dataset. NRE proceeded to analyse and interpret data over its base metal target with particular focus on the formation and structure of the Daly River Arch. NRE has commenced modelling of the gravity data together with its database of other data with senior geophysicist, Mr. Rob Angus. This was initiated in order to produce a better understanding of the target and define areas for further exploration which will include geophysics, sampling and possible limited drilling program.