Roper Project EL 22478, EL 22479 and EL 22480 Group annual report for third year 10 August 2003 to 9 August 2004

Abstract

Exploration Licences 22478, 22479 and 22480 were granted on 9th August 2001 to Mr G Fanning under an Agreement with Exploration and Resource Development Pty Ltd (ERD), a Darwin based resource sector company. ERD Pty Ltd is the designated Project Manager. The tenements, covering approximately 4,325 sq km of Roper Group stratigraphy in the Bauhinia Shelf / Arnhem Shelf tectonic elements of the western McArthur Basin, envelope extensively mapped eroded ilmenite-bearing source rocks with considerable potential for large tonnage 'insitu', eluvial and colluvial heavy mineral accumulations. Titaniferous dolerite sills intrude Adelaidean Roper Group sediments at a number of exposed stratigraphic horizons. The dolerites have been subject to prolonged weathering and erosion during the Tertiary and Recent epochs through to modern day wet season cycles. Year 3 activities incorporated infill 25 metre spaced auger drilling at the Buka South Prospect in EL 22478 (3,207 holes for 3,893 metres); receipt and interpretation of HM results from the year 2 regional sill investigations on EL 22478; continuation of backhoe excavation and channel sampling (76 samples) of a further 4 regional sill targets on EL 22479; excavation and sampling of three shallow trenches at Buka South to collaborate auger intercepts and provide ore body characteristics; an independent resource calculation exercise at Buka South.