Year 1 Annual technical report for EL 28429 Marshall 24 August 2011 to 23 August 2012

Abstract

During the first year of work, a review of the previous work on the tenement and surrounding areas was undertaken. Much of the work was completed by Olympia Resources (2008) and centred on the hard rock potential of Bruce's Copper prospect. Previous explorers had identified this small vein as having localised high grade areas upto 53 g/t Au and 3.1% Cu. The vein itself is fairly unimpressive, and outcrops as a thin, slickensided quartz-ironstone vein with limited dimensions. There is a small soil anomaly associated with the quartz vein. Soil sampling by us around the vein (10m on either side of visible malachite) confirmed the relative low Au/As tenure. Copper was slightly more anomalous being about 30-40 ppm against a regional background of 10-20 ppm Cu. The results probably reflect a high degree of transported sheet wash overlying the area. Further orientation work is required. Bralich and Riding consider the vein itself as being adequately explored. Drilling under the high grade areas, returned only mildly anomalous Au values. The pinched and lensed outcrop appears to be replicated at depth. About 100m north of the vein, further drilling has identified thin intercepts of probably supergene related Au. This is interesting as it appears to be distal to the vein, and could result from another mineralised structure. It's planned to follow up this concept in year 2. Two additional rock chips confirmed the copper, and highlighted other potential pathfinder elements such as Bi that may prove useful for geochemistry. Nearby outcrops were inspected for signs of alteration or mineralisation. Some weakly developed calc-silicate style alteration (hornfels banding) was observed to the east. A review of the NTGS Aster data was also undertaken; it identified a number of chemical signatures parallel to the quartz vein. These will be followed up in year 2. Other work undertaken included creating a GIS database, magnetic and google interpretations. Additionally Bralich and Riding were approached for 2 JV arrangements. One was rejected, another is still in discussion.