Bridging report 25 March 2000 to 09 May 2006 MCC 351 Bomber Group

Abstract

Mineral Claim 351, part of the Bomber Group, was acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. This bridging report records the exploration work done on MCC 351 during the term 25 March 2000 to 09th May 2006. The level of exploration to test the Bomber Prospect was to some extent limited during the term, due to the Company's higher priority commitments on the development and mining of the Chariot and Malbec Deposits and regional exploration on tenements elsewhere in the Tennant Creek Mineral Field. Proposed exploration activities on MCC 351 for the renewal term will include further analysis of all previous exploration data, including the reassessment and potential assaying of one diamond hole drilled in 1971 by GeoPeko to a depth of 386.5m to test the Bomber/Explorer 86 magnetic anomaly. The hole intersected a fine-grained siltstone and shale sequence. Magnetic shales were recorded in four horizons between 90 and 387m, with individual layer thicknesses up to >70m. Trace pyrite and chalcopyrite was recorded in various intervals, but there is no record of the hole being assayed. Santexco Pty Ltd (Emmerson Resources Pty Ltd) will also undertake detailed geochemical and geophysical surveys, pending favourable results, regolith drilling. The tenement is ranked as prospective due to being underlain by Warramunga Formation units, the presence of the Bomber prospect, a number of Au anomalous ironstones and proximal to the Gecko deposit.