EL 8199 Carlsberg Third annual report for the period 8 March 2001 to 7 March 2002

Abstract

Exploration Licence 8199, Carlsberg is located approximately 18 km east southeast of the Tennant Creek township. Access to the Licence area is via a four-wheel drive dry weather track originating near the Tennant Creek microwave repeater tower and following the 'Lone Star' trend of workings. At the first gate turn and follow the fence line east southeast for approximately 7km until another gate is reached. The middle of the EL is 2 km south from this gate along the fenceline. Exploration Licence 8199 consists of one graticular block (3.3 km2 ) and was granted to Normandy Tennant Creek Pty Ltd (NTC) on 8 March 1999 for a period of six years. On 13 June 2001, Giants Reef Exploration Pty Ltd, a wholly owned subsidiary of Giants Reef Mining Limited, purchased all of the shares in NTC from Normandy Consolidated Gold Holdings Pty Ltd, a wholly owned subsidiary of Normandy Mining Limited. As a result of this, NTC is now a wholly owned subsidiary of Giants Reef and has had its name changed to Santexco Pty Ltd (Santexco). This report records exploration undertaken by NTC and Giants Reef Mining Limited (Giants Reef) on Exploration Licence 8199 Carlsberg, for the period from 8 March 2001 to 7 March 2002. Giants Reef has identified a discrete, low amplitude magnetic high at a location that corresponds with a small area of quartz outcrop. Giants Reef, through its subsidiary Santexco, plans to sample the outcrop and concentrate on geophysical modelling of the magnetic source next year.