Final report for EL9574 Hamish 23 October 1996 to 28 April 2006

Abstract

This Final Report records exploration work done on EL 9574 between 23 October 1996 and 28 April 2006. Exploration Licence 9574 Hamish was acquired by Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits ('IOCG'). Since the purchase of the EL in June 2001, Giants Reef didn't have sufficient time to do anything other than make a brief assessment of the potential of EL 9574. It is clear that the EL is situated in an area of favourable structural complexity midway between the Warrego and White Devil mines. Evaluation of the historical exploration data reveals that there is incomplete surface geochemical coverage in the area, and that there are several low to medium order magnetic anomalies requiring follow-up, some of which are poorly tested and others undrilled. The discovery of the haematite-magnetite Chariot deposit in 1998 has shown the potential for variations on the classic magnetite ironstone hosted gold +/- copper deposits, where lower order magnetic anomalies, plus gravity methods can define new targets. Discoveries by Giants Reef of mineralisation such as at Malbec West, Marathon and Billy Boy further support this. Automatic cancellation of EL 9574 occurred on 28 April 2006 upon the grant of Substitute Exploration Licence 24979.