Final report on EL 9800 'Mike' 6 December 2001 to 28 April 2006

Abstract

This Final Report records exploration work done on EL 9800 between 06 December 2001 and 28 April 2006. Exploration Licence 9800 Mike was acquired by Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits ('IOCG'). Exploration Licence 9800 was recognised by Giants Reef to be an area of favourable geological setting given its structural location along the Navigator Fault line, and its geophysical response. Although a number of previous companies have explored the Licence area, Giants Reef consider the Licence to have significant prospectivity remaining. 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 9800 occurred on 28 April 2006 upon the grant of Substitute Exploration Licence 24979.