EL 8199 Carlsberg Fifth annual report 8 March 2003 to 7 March 2004

Abstract

This report details exploration undertaken by Giants Reef Mining Limited (for Santexco Pty Ltd) on Exploration Licence 8199 Carlsberg, for the period from 8th March 2003 to 7th March 2004. Targets are ironstone-related gold-copper deposits. Since the purchase of the EL in June 2001, Giants Reef has not had sufficient time to do other than make a brief assessment of the potential of EL 8199. It is clear that the EL is situated in a favourable geological area, however no target areas within the EL have been identified as yet. Giants Reef has identified a discrete, low amplitude magnetic high at a location that corresponds with a small area of quartz outcrop. As a result of Giants Reefs exploration commitments being focused elsewhere in the goldfield, the proposed rock chip sampling program over the outcrop was postponed for the 2003 field season. In March 2004 Giants Reef advertised for a database geologist to join the exploration team. This person will be responsible for the data compilation over a number of tenements including EL 8199. Additionally, the geology of the area will be assessed to decide if a close spaced high-resolution gravity survey is warranted over the EL. Giants Reef, through its subsidiary Santexco, plans to sample the outcrop and concentrate on geophysical modelling of the magnetic source in the sixth tenure year.