EL 25643 Mount Isabel and EL 25653 Acacia Bore Sammy JV Project Annual technical report for the period 20 August 2011 to 19 August 2012

Abstract

Work completed over the tenement area during the reporting period included the following: 308 rock chip samples; Geological mapping; 921 soil samples; 363.8 sqkm of 100m spaced airborne magnetic data were collected; 8.8 line km (6 lines) of dipole / dipole IP; 2 diamond drill holes; 11 reverse circulation drill holes; and 62 aircore drill holes. Geological mapping on EL 25643 continued to identify extensively altered basement granites and metasedimentary rock types containing primary and secondary copper mineralisation, consistent with an IOCG mineralising system. Mineralisation was found in a number of areas now known as the Powers, Austin, Nigel, El Gordo, Mini Me and Gold Member prospects. Work completed has further enhanced the Project area to host a number of mineral deposits including Ni-Cu, Au and IOCG deposits. Work is expected to increase in the next year of tenure, particularly on EL 25643 where evidence of an extensive IOCG mineralisation province may be unfolding. This work will include further geophysical surveys, geological mapping and sampling and drilling following heritage surveys.