Ewan Edward Project annual report for the period 17 July 2007 to 16 July 2008 exploration license EL 25577 Tennant Creek Region

Abstract

EL25577 is a granted Exploration Licenses that covers approximately 6.3km2 in area and is located approximately 25km east of Tennant Creek in the Northern Territory. The tenement group is in the Tennant Creek Mineral field and is prospective for epigenetic structurally controlled ironstone related gold copper mineralization. This report details exploration activity completed during the 12 month reporting period between 17th July 2007 and 16th July 2008. Unless indicated, all co-ordinates are expressed using the GDA94 Zone 53 system. Exploration undertaken to date has identified prospective iron formations hosted in the Waramunga Formation that in structural settings that elsewhere in the Tennant creek region host significant ore grade gold and copper mineralization. Regional ground mapping in conjunction with regional magnetic data has identified shear zones cross cutting folded sequences of hematite and iron oxide units hosted within the Warramunga Formation. Zone of intense alteration has been identified along the contact margins between felsic intrusive bodies and sedimentary units. Rock chip samples collected throughout EL25577 have returned elevated values. It is recommended that exploration continue in an attempt to identify ore grade gold and copper mineralization within EL25577. A program that includes; Detailed 1:1 000 Scale mapping in areas where mapped & interpreted shear zones intersect folded heamatite rich units of the Warramunga Formation, Details Ground Gravity survey shear zones intersect folded heamatite rich units of the Warramunga Formation, Shallow RAB drilling to better identify host stratigraphic units, structural components and geochemical halos, Reverse Circulation to test for ore grade Gold and Copper mineralization associated with stratigraphic and structural traps at depth.