Daly River Project EL 22496, EL 22498 and EL 23595 Annual report for the period 5 September 2002 to 4 September 2003

Abstract

This report contains detail review of previous data in the area. Several base metal prospects or small deposits have been found in the Daly River area which have been worked out intermittently. So far, a resource of 762 000 tonnes at 9.9% Zn, 1.77%Cu, 0.3% Pb and 14.5 g/t Ag has been estimated. Exploration for gold has been minimal. This study indicates the presence of volcanogenic massive sulfide mineralisation which could be detected with geophysical methods. Magnetic and structural targets within volcanic rocks of the Warrs Member should be tested. This study also identifies structurally complex, unexplored area with gold potential.