Annual report 2012 year ending 3 June 2012 EL 23814 Bulman Project

Abstract

Exploration completed in 2011 included: an Airborne EM surveying of the entire tenement, including geophysical and geological interpretation. A major assumption of the exploration to date has focused on targeting similar or 'type' Pb-Zn mineralisation such as the McArthur River Mine. Although this model and aerial extent has been used in this work, it is worth noting that there are differences between the locations of the McArthur River Mine deposit and that of the Bulman mineralisation. The Bulman mineralisation has been defined as a modified to remobilised stratiform mineralisation style in which zinc-lead mineralisation has been modified and or remobilised by intruding dolerite to form stratabound, contact and or fault focused mineralised pods. The results of an airborne EM survey indicated that: Magnetic data clearly shows extensive dolerite sills and dykes particularly in the eastern, southern and western areas which underplate the entire tenement; Sedimentary unit thickness above the resistive 'basement' (dolerite) is variable up to 170 metres in the central - eastern part of EL 23814; The highest conductivity zones occur as a contact zone between dolerite and the Dook Creek Formation; Anomaly 'picking' from the line data resulted in a large number of anomaly points being recognised. However, not all of these anomaly picks are recommended for further investigation; Although no conclusive discrete anomalies of clear drill target nature have been forth coming from the interpretation, there is clear evidence that there are substantial areas with considerable depth of sedimentary package, which include Dook Creek Formation within which there are exploration targets. Nineteen (19) EM anomaly pick groupings were ranked by the geophysical contractor based on both their EM and magnetic response. Of these, Geos Mining considers that there are six priority targets which warrant further exploration.