EL 7635 Horseshoe Mount Todd District Final report on exploration

Abstract

The report provides a summary of exploration for years 1-4. During the last year of the licence work completed included 1:1000 scale detailed geological mapping, 47 rock chip samples (predominantly from shears and stockwork), 2 phases of soil sampling totalling 537-40# samples and 15 RC holes totalling 1229m. The rock chip sampling from the shears returned values from 2.03ppm to 32.0ppm. Results from stockwork disappointing grading to 0.55ppm Au. The infill (400) sampling confirmed and redefined the Billiton Soil anomaly with a maximum assay of 150ppb Au. The survey was subsequently extended to the eastern boundary of the licence and across the licence to the north of the Horseshoe anomaly. A peak value of 3ppbAu was obtained. This work suggests that the potential is limited to the north and to the east. 15 RC holes (1229) were drilled to test the main anomalous zone. Results were disappointing. High grades were encountered in shear-breccia zones but there was no disposition into the country rock.