EL 23814 Annual and final report 2015 Bulman Project

Abstract

No exploration activities were completed in 2014-2015. Exploration activities conducted by BRS throughout the tenure of EL 23814 have included a variety of exploration methods including: Airborne magnetic, radiometric and electromagnetic surveys; Reverse Circulation drilling; and Geochemical sampling of soil, rockchips and termite mounds. This activity has identified zinc anomalism that is widespread and at a level that is 10 to 100 times higher than within surrounding non-anomalous Dook Creek Formation. When combined with the latest geophysical information, a number of priority ranked targets within a zone immediately around and to the northeast of Dingo Argentus have been highlighted. The decision has been made by Bulman Resources to not renew EL 23814 beyond the 3rd of June 2015 expiry date due to the following factors: The high cost of conducting exploration activities at the remote and poorly accessible Bulman Project. The parent company Admiralty Resources conducted a reappraisal of the project and has elected to focus on offshore projects.