Annual exploration report AN 413 year ending 4 May 2009

Abstract

Technical review of the project area shows that it mainly covers part of crescent-shaped valley which is magnetically recessive. From geological information it appears that Burrell Creek Formation covers such magnetically recessive valleys. This could be due to de-magnetisation of rocks. It may be noted that several gold deposits-prospects occur in such magnetically recessive valleys (e.g Fountain Head, The Jar, Lady Joesphine). Review undertaken shows that it has good potential in hosting gold mineralisation. However, there is a need to devise a dedicated exploration program to pursue geochemical targets. For this purpose, the area will be mapped in details and a program of soil-rock chip sampling will be carried out. If it identified some anomalous areas, then it will lead to RC-RAB drilling.