First annual report for the period ending 8 June 2005 EL 24304 and EL 385 Walker River

Abstract

Exploration Licence (EL) 385 was applied for in 1972 by CRA Exploration Pty Limited (CRAE). Partial consent of the application area resulted in the granting of two separate licences (EL's 385 and 24304) in June 2004. The tenements are located approximately 180 km south-west of Nhulunbuy, and 80 km north of Numbulwar in south east Arnhem Land and consequently are processed under the Aboriginal Land Rights Act 1975 (ALRA). The tenements are considered prospective for base metal mineralisation, similar to that at McArthur River (HYC) in the McArthur Basin. Subsidiary targets are diamonds and bauxite. The tenements contain McArthur Group equivalent sediments adjacent to the eastern margin of the Walker Trough. McArthur Group sediments are host to the McArthur River (HYC) lead-zinc deposit located approximately 300 km to the south. Exploration completed during the current reporting period was directed at locating a stratabound base metal deposit and has comprised: soil sampling (274 samples), minus80# stream sediment sampling (23 samples), minus1 mm gravel sampling (7 samples), and rock chip sampling (8 samples). Results to date have not identified any anomalous metal levels in any of the samples. Further work in 2005 will be directed at sampling below the transported sand cover present on the eastern (coastal) side of the Coast Range.