Annual report 2013 year ending 3 June 2013 EL 23814 Bulman Project

Abstract

Exploration completed in 2012-2013 included: Geological reconnaissance including portable XRF readings; Ground based geophysical EM surveying of select targets including geophysical and geological interpretation; RC drilling 9 drill holes for 1118.5m. The drill holes completed in Area 1A were designed to test magnetic and electromagnetic anomalies identified in the airborne surveys. Drill holes in this area intersected a deep weathering profile, approximately 90m, imposed on bedded and interbedded sequence of sandstone, laminated limestone and shale (mudstone). These Dook Creek Formation upper units represent an open-leaky aquifer. The sequence is intruded by intensely weathered pepperite dykes and dolerite dykes, which are completely converted to sticky dark yellow - brown clays. Although no magnetic units were intersected the shales and intensely weathered dolerite dykes are proposed to account for the airborne anomalies. No significant mineralisation was intersected. Drill holes designed to intersect potentially faulted and more magnetic Dook Creek Formation units on the western edge of area 1A were not drilled. Mapping and geochemical sampling of notable ASTER MgOH-FeOH high spectral reflectance anomaly picks successfully located a number geochemical and structural ground targets. The most intense being at MGOH_11, now termed Dingo Argentus, where southeast dipping haematitic gossanous stromatolite outcrop and haematitic + or - siderite stockwork veined sandstone belonging to the Dook Creek Formation were located beneath unconformably lying Mt Rigg Group, Limmen Sandstone. Although field portable XRF (FPXRF) indicated high zinc, lead and silver values within these outcrops, only some anomalous zinc values, 200 to 100 ppm Zn, and notable high iron (20-40 percent), manganese (0.3-5 percent) and phosphorous(0.1-0.3 percent) were returned from chemical assays of selected samples. This indicates that FPXRF instrument had difficulty with high iron, manganese and phosphorous content materials given false readings. Further mapping and geochemical sampling is highly recommended at a number of selected and ranked target areas. Drilling at Dingo Argentus confirmed surficial zinc anomalism at depth. Best intersections encountered were: BM007 - 13m at 592 ppm Zn from 11m, including 4m at 1125 ppm Zn from 15m; BM0009 - 40m at average 387 ppm Zn from 5m, including 13m at 616 ppm Zn from 26m; and 21m at 358 ppm Zn from 113m, including 7m at 509 ppm Zn from 127m; plus BM006 - 5m at 1052 ppm Zn and 190 ppm Pb from 19m. Anomalous intersections are in vuggy and orange clay enriched laminated limestone and interbedded fine grained sandstone plus thin ferruginous stromatolite and shale. These units belong to the Dook Creek Formation upper sequence. No dolerite or magnetic units were encountered in drilling to 150m depth. Ground fixed loop electromagnetic surveys did not identify targeted airborne EM anomalies. All surveys indicate weak flat lying conductors, possibly shale or stromatolite and-or dolerite dyke contacts, but considered here to be the former. A depolarisation feature in survey 1A is potentially related to a shear - fault structure. A deeper higher conductive anomaly at depth (approximately 50 - 100m) south of the loop edge at Dingo Argentus is unqualified and of notable interest. BM009 intersected the western edge of this conductor. The conductor lies close to and trends south across the tenement boundary. This feature correlates with a NS zone of higher magnetics in the recently released Northern Territory depth to magnetic basement image. All locally known mineralisation occurrences correlate with similar features in this imaging. Although zinc anomalism is widespread in these systems it is important to note that the level of anomalism is 10 to 100 times higher than within surrounding non-anomalous Dook Creek Formation. Combined with the latest information highlights a number of high priority-ranked targets within a zone immediately around and to the northeast of Dingo Argentus. Numerous other areas also offer good prospectivity.