EL 9915 and EL 9935 Second Combined Annual Report 31 March 2004 to 30 March 2005

Abstract

This east-west shear zone will continue to be the focus for Giants Reef's exploration in the future years. Historical surface gold and copper anomalism has been recorded (by past explorers) from within this shear zone and data compilation, translation and validation will continue into the next year. In total 1,101 gravity stations were collected over EL 9915 and EL 9935 during the reporting period. This data is very encouraging with several new target areas identified and confirmation of dense (ironstone) rocks existing within the survey area. The detailed gravity survey appears to have added a new dimension to Giants Reef's understanding of the non-outcropping geology and the distribution of non-magnetic ironstone bodies within the survey area. The fact that non-magnetic ironstones, hosting gold mineralisation are known to exist (Malbec West and Chariot deposits), yet have not really been searched for previously in the Tennant Creek Goldfield, means that the potential for new discoveries is highly likely. Targets are magnetite-haematite ironstone related gold and copper mineralisation. Giants Reef plan to continue exploration within both Licence area's.