Eighth annual and final technical report for the period 18 January 2007 to 17 January 2015 Waterhouse west project EL 24563

Abstract

During the reporting period of 18 January 2007 to 17 January 2014, Aldershot Resources Limited and Royal Resources Limited work on EL 24563 began with a detailed review, and compilation of historical exploration data from open file reporting into a legible database. Field activities commenced with site reconnaissance to areas identified for uranium prospectivity for verification. Photo-interpretation of existing and additional geological mapping aided in geological interpretations. Surface sampling, both soil and rock chipping was carried throughout the tenure of the tenement at sites for prospective for both uranium and iron ore mineralisation. Drilling at two locations along the interpreted Giants Reef fault followed by surveying with downhole gamma logging followed in 2011. Petrology of rock chips and follow up reconnaissance in 2013 and 2014 to test for iron ore prospectivity found low prospectivity for iron given current market conditions and styles of mineralisation. Rehabilitation of disturbed areas completed in 2012. A compilation of the previous years results were reviewed in the final year, with a minor ground magnetics survey taking place. Historically the Waterhouse West Project was prospective for uranium and iron within three geological units; Stanley Metamorphics, Crater Formation and Geolsec Formation which differ in age, composition and mineralisation style, occurring within (Stanley Metamorphics) and along the margins of the Waterhouse Dome. Unfortunately, due to economic conditions, styles of mineralisation and low grade assay results, Royal Resources has made the decision to surrender the tenement in lieu of focussing their resources on other projects.