Final report on EL 9915 Chinchilla 31 March 2003 to 30 March 2006

Abstract

This Final Report records exploration work done on EL 9915 between 31 March 2003 and 30 March 2006. EL 9915 Chinchilla was acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. Exploration on EL 9915 focused on the area of the major Bluebush Gravity Anomaly (Giants Reef's term). A well defined east-west structural corridor passes through Chariot and Malbec West and continues west, into the Licence area. Consequently the EL has been subject to much interest by Giants Reef for their potential to a host orebodies of a similar style of mineralisation as the Chariot mine. This east-west shear zone will continue to be the focus for Giants Reef's exploration in the future years. 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, however Giants Reef considers the potential for the discovery of mineralisation in hematite dominant ironstones in the relinquished portion of EL 9915 is limited. Automatic cancellation of EL 9915 occurred on 28 April 2006 upon the grant of SEL 24980.