Final report EL10403 Windgate - 30 December 2004 to 28 April 2006

Abstract

This Final Report records exploration work done on EL 10403 between 30 December 2004 and 28 April 2006. Exploration Licence 10403 was ranked by Giants Reef as high priority exploration target with the potential to host shallow, high-grade oxide gold within haematite-magnetite ironstone. Giants Reef's exploration focus during the tenure period had been on developing its Malbec, Cat's whiskers and Edna Beryl deposits, regional exploration proximal to these, and progressing regional exploration into the more prominent mineralised corridors of the Tennant Creek Mineral Field i.e. the Eldorado-Comstock, (Noble Nob Line), Peko-Golden Forty and the Northern Star lines. With success within these areas Giants Reef intends to expand its exploration into more greenfields regions of the Tennant Creek Mineral Field such as EL 10403. 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.