EL 22729 Magellan Second annual report 29 July 2004 to 28 July 2005

Abstract

Exploration Licence 22729 Magellan, is located between the Warrego and White Devil mines, in the Navagator Fault area. This report records the exploration work completed on EL 22729 during its second year of tenure, from the 29 July 2004 to the 28th July 2005. Targets are Tennant Creek-style magnetite ironstone associated gold and copper ore bodies, and also shallow haematite-ironstone related gold deposits. Exploration Licence 22729 was originally applied for by Giants Reef in 2000 to cover a group of Mineral Claim Applications (MCC 1427-1432) which were being withdrawn as a consequence of the termination of the Western Mining Joint Venture. The tenement includes the Navigater 2 magnetic anomaly. The presence of Warramunga Formation units, a major splay fault off the Navigator Fault, and a series of moderate magnetic anomalies and proximity to the Warrego deposit places EL 22729 as a highly ranked target area in terms of its prospectivity potential. During the reporting period, literature review and some reconssaince field field work was conducted.