Annual and final report on EL 27649 Mary River Project for the period 29 April 2014 to 9 June 2015

Abstract

During the tenement life, a technical review of geological and geophysical data collected to date was undertaken. A number of field visits were undertaken to check rocks in the project area. In addition, historical geochemical results retrieved previously was examined for anomalous values, particularly for base metals and gold. Geological, structural and geophysical data interpretation has identified magnetically anomalous areas which may have potential for base metals plus gold mineralisation. A technical review of the project area shows that EL 27649 has geological setting where granite-sediments contact supports the prospectivity for base metals plus gold mineralisation. Of particular interest are the anticlinal structures which are considered important for hosting mineralisation in the PCO. Prospectivity of the project area is further highlighted by the magnetic nature of the Mundogie Sandstone, located in close contact with the Minglo Granite. Historical soil sampling also shows elevated levels of base metals values. However, difficult access to the North of the tenement due to numerous creek crossing and the abundant presence of swamps to the South decided Element 92 to relinquished EL 27649 in June 2015.