Ninth annual report 23 October 2004 to 22 October 2005 EL 9574 Hamish

Abstract

Exploration Licence 9574 Hamish was acquired by Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits. This report records the exploration work done on EL 9574 during the ninth year of tenure from the 23rd October 2004 to the 22nd October 2005. Exploration work carried out during the year included: review of historic vacuum and surface geochemistry sample data over the Licence areas, assessment and implementation of work programs on known prospects with shallow oxide gold resource potential; and assessment and modelling of low-medium order magnetic targets. The review of magnetic data and structural interpretation over the License area has defined a number of anomalies in the north east and south west of EL 9574, which warrant further investigation. This work indicates there is good potential for the discovery of shallow concealed oxide (i.e. hematite) gold deposits. Geophysical modelling of magnetic data next year will be aimed at modelling both oxide and deeper primary targets for drill testing. Work is also planned to undertake surface geochemistry surveys prior to any drilling.