Annual report year ending 12 May 1998 EL 734

Abstract

The exploration programme for the second year of tenure consisted of ongoing geological mapping and regolith studies, ground follow up of airborne anomaly, geochemical sampling, auger, RAB and diamond core drilling. The most significant results obtained were the further definition of the regional tectonostratigraphy by RAB drilling and the discovery of significant alteration with associated low grade uranium mineralisation at Fishtail. The uranium mineralisation is associated with isolated gold values to 209ppb. The Dreadnought anomalism is a N-S trending structure and is associated with quartz veining. Auger geochemistry showed an Au-U-As-Cu-Y association. U/Th ratio exhibits isolated anomalies in the south east of the grid. Gold values ranging from 9 to 41ppb straddle the base line. Base metals and As also exhibit some anomalism. A bulk loam sample was obtained in an ultramatic host lithology, chromites obtained indicate a non-kimberlitic affinity.