Second group annual report for EL 8845, EL 8846, EL 9474 and EL 9475 North Eastern Tanami Project for the year ending 22 March 2003

Abstract

Work during the reporting period included geochemical sampling, posthole drilling RAB and Aircore, RC drilling, geological and geophysical interpretations. No anomalous results were returned from the geochemical sampling. Posthole drilling returned gold results of 11 ppb from 3m composite sample. Aircore drilling defined a number of anomalous gold geochemistry trends of more then 6km strike within the EL 8845 and EL 9475. A maximum gold results of 1.68 g/t was returned from a 3m composite sample. The best results from the Oracle and Morpheus included 42 m @ 1.08 g/t Au, 1m @ 0.49 g/t au and 1m @ 0.425 g/t Au. The RC drilling defined a number of anomalous gold geochemistry trends of more then 12 km strike within EL 8845 and EL 9475. A maximum results from the Oracle and Trinity prospects included 1m @ 4.01 g/t Au and 1m @ 2,51 g/t Au. Geophysical modelling completed in -house was used to establish the orientation of magnetic units to ascertain the optimal direction for drill testing. Magnetic susceptibility reading were also collected and used in the magnetic modelling. A number of structural domains were interpreted from the recent work and each domain was assigned prospectivity for gold mineralisation.