Victoria River Downs Surrender report for EL 25728, EL 27934 and EL 28753 11 October 2007 to 22 May 2015

Abstract

In 2009 to 2010, Anglo conducted a helicopter-supported gravity survey in two areas. The northern part of the survey (based on readings spaced 1 km x 1 km) was designed to target a major north south fault and associated splay faults and domes over a strike length of 50 km near Victoria River Downs Station. The southern half of the survey in the Mt Sanford area (EL 25728, 100 km south west of Victoria River Downs Homestead) was also conducted initially on a 1 km x 1 km basis and then infilled to 500m x 500m. The gravity data assisted in the interpretation of the geology and the development of targets. The most promising targets were developed in the Mount Sanford area where a broad gravity low is highlighted, sub- parallel to and east of a major NW trending fault (Pear Tree Fault). This area was interpreted to be a potential shale basin. In the fourth year of tenure the interpreted gravity targets were followed up with stream sediment and rock chip samples. No evidence of outcropping mineralisation was discovered. Stream sediment samples collected in the vicinity of the gravity targets were 1 to 2 times above background in Zinc (i.e. moderately anomalous). The highest values were collected in streams overlying the B1 and B2 target areas which contained sediments dominated by weathered Cambrian volcanics. Work completed in current period included 1048 line kilometre airborne TEMPEST Survey, 2 diamond drillholes and a water bore. MSFDD001 and MSFDD002 both intersected sandstones and siltstones interpreted as shallow marine shelf facies. No significant mature succession of carbonaceous shale was intersected. There was no evidence of significant tectonic activity during deposition. Geochemistry did not reveal any base metal anomalism or alteration. The holes showed no correlative geology to adequately explain the EM response and the water table occurs at the same depth where the highest intensity EM response depth slice occurred. Intersected shales were poorly developed and there were only minor sulphides as fracture coating. MMG Australia Limited withdrew from the Joint Venture on the 28 November 2014 and since then no exploration activities have been undertaken by Anglo Australian Resources NL.