EL 9909 Star Wars, EL 10017 Stoney Dam and EL 22224 Monzonite Third combined annual report 20 March 2003 to 19 March 2004

Abstract

Exploration Licences 9909 Star Wars, EL 10017 Stoney Dam and EL 22224 Monzonite, are three contiguous tenements that Giants Reef refer to as the Rosella project area. The Rosella project area was acquired to search for large base metal deposits associated with a broad gravity anomaly centred in the western part of the project area. This report records the exploration work done on EL's 9909, 10017 and 22224 during the third year of tenure, from the 20th March 2003 to the 19th March 2004. No on-ground exploration was conducted over EL 9909, 10017 and 22224 during the year. Giants Reef reviewed the geological targets and models for both exploration Licences to assess the likelihood of an immediate discovery. The review recognised a number of magnetic anomalies within EL 9909, 10017 and 22224 which are indicative of Tennant Creek style gold-copper occurrences. Because Giants Reef's primary interest is currently within the traditional Tennant Creek goldfield, and currently do not have the personnel to explore the Licence areas, a decision was made to joint venture the Licences. Giants Reef are currently actively pursuing a Partnership or Alliance for exploration over the Licence areas and surrounding tenure.