EL 9800 Mike Second annual report 6 December 2002 to 5 December 2003

Abstract

Exploration Licence 9800 Mike, is located 45km north-west of Tennant Creek town and 3km south-east of the Warrego mine. Targets are ironstone related shear hosted gold-copper Tennant Creek style deposits. This report records the exploration work done on EL 9800 during the second year of tenure, from 6th December 2002 to 5th December 2003. Exploration Licence 9800 is recognised by Giants Reef to be an area of favourable geological setting given its structural location along the Navigator Fault line, and its geophysical response. Although a number of previous companies have explored the Licence area, Giants Reef consider the Licence to have significant prospectivity remaining. In the next year Giants Reef intend to thoroughly assess and review EL 9800 including the Tiger prospect. A detailed geophysical appraisal of the Licence area is required, specifically focussing on gravity interpretation and targeting.