Annual exploration report EL 10367 Au Quest Project year ending 21 October 2007

Abstract

EL10367 is situated 90 km SE of Darwin and approximately 2 km south of the Rustlers Roost Mine along the Arnhem Highway. EL10367 was originally applied for by Renison Consolidated Mines NL on the 22nd October 2003 as part of a group of tenements (AuQuest Project) that have a northwest trend, which covered Renison Consolidated Mines NL Noonamah-Corroboree trend. The licence encompasses a suite of meta-sedimentary rocks belonging to the Mt Bonnie Formation and the Burrell Creek Formation. These comprise brown to grey-green, thickly bedded to massive, fine to coarse feldspathic meta-greywacke with graded bedding in places and minor lenses of volcanilithic pebble conglomerate; brown to grey, laminated phyllite, slate and mudstone; minor quartz-mica schist. Work during the period 22 October 2006 to 21 October 2007 on tenement included literature search, reconnaissance visit, administration and report writing. This was due to the acquisition of the tenement package by GBS Gold Australia Pty Ltd. Follow-up work should entail geological mapping and rock chip/soil sampling of all outcropping quartz veins, gully and creek sediment sampling and costeaning of Au anomalous outcrops. Should significant mineralisation be encountered, Aircore/RAB drilling programme should be carried out. The magnetic spot high anomaly in the south-central sector of the licence should be investigated further with several vertical RAB holes.