Annual exploration report for EL 23540 for period ending 16 February 2007, Saunders Creek, Burnside Project

Abstract

Exploration Licence (EL) 23540 is located east of the Yam Creek tenement group, on the eastern side of the Burnside JV. The EL is dominated by the rocks of the Koolpin Formation along with Gerowie Tuff and intruded by dykes of the Zamu Dolerite. This sequence resembles the geological setting which contains Cosmo-style gold mineralisation. In the current reporting year, work consisted of a technical review of the EL, geochemical sampling along with SPOT imagery/magnetics interpretation to determine structural trends in the area. This review has highlighted metallogenic potential of the area and may contain gold and base metal mineralisation. In addition, during the reporting year 124 soil and rock chip samples were collected which will be analysed for gold and base metal mineralisation. [124 soil and rock chip samples taken, results for 94 of these are in 2008 report]. Work on integrating data into DataShed will continue as part of GBS Gold Australia's regional data management programme. Planned fieldwork will involve ground checking/geological mapping to check the structural interpretation and additional geochemical sampling. If encouraging result received, it will lead to drill-testing of targets.