SEL 8665 Shark Final report 8 March 1999 to 7 March 2007

Abstract

This Final Report records exploration work done on SEL 8665 between 08 March 1999 and 07 March 2007. The Licence was reviewed for oxide gold potential based upon either old gold workings and or exploration carried out on prospects generated by former explorers. This work has highlighted the potential in the area for shear zone type gold mineralisation, with only very weak geophysical responses. The area covered by, the now expired, SEL 8665 is covered under SELA's 25890 and 25912. This area is classed as prospective as it contains a number of discrete magnetic anomalies and the south west extension of the Noble Nob fault structure. 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. The expiry of SEL 8665 occurred on 07 March 2007 at the end of it's eighth year of tenure.