EL 22729 Magellan First annual report 29 July 2003 to 28 July 2004

Abstract

Exploration Licence 22729 Magellan, is located between the Warrego and White Devil mines, in the Navagator Fault area. This report records the exploration work completed on EL 10015 during its first year of tenure, from the 29th July 2003 to the 28th July 2004. Targets are Tennant Creek-style magnetite ironstone associated gold and copper ore bodies, and also shallow haematite-ironstone related gold deposits. A brief review of all current information, and exploration by NTC over the EL was conducted. The review identified one magnetic target within the reporting area EL 22729, being the Nav 2 Prosect. A literature review identified a previously explored prospect area called Magellan, held under EL 7151 by Western Mining Corporation. In August 2004 Giants Reef Exploration submitted a Mining Management Plan (MMP) for Exploration within the orthern Project area, which spans from White Devil in the west to the Whippet prospect in the east. Approval of the MMP is pending, and will initiate a new phase of exploration by Giants Reef within the northern area of the Tennant Creek field. No on-ground exploration was conducted over the Licence area within the first tenure year.