EL 24464 Mt Mabel first annual report for year ended 10 April 2007

Abstract

This tenement is considered prospective for uranium, gold and base metal sulphide mineralisation. During the first year of tenure, two reverse circulation drill hole were completed at the Kylie Prospect. A large proportion of time and expenditure was devoted to compilation of all locatable exploration data into a GIS format. During the period 1950-1974, most of the regional exploration in this area was conducted by the BMR as part of a regional programme aimed at locating uranium deposits. The Waterhouse No. 2 copper-uranium prospect, located at that time is in the north-east of the tenement. The most extensive exploration was undertaken by Uranerz in the late 1970s and early 1980s. This involved extensive drilling programmes and ground geophysical surveys. Aztec Mining last held the area in the period 1992-1998 and gives a good summary of previous exploration in its early Annual Reports.Work by Aztec included stream sediment sampling, soil and rock chip sampling, costeaning and various drill programmes. They also completed a large aeromagnetic survey of the region and re-assayed some existing drill core. Two RC holes were completed at the Kylie prospect, the purpose being to confirm assay and lithology data reported by previous explorers.