Annual report Barkly Project EL 10370 reporting period ending March 2008

Abstract

This report summarises the exploration history of EL 10370 as well reporting on the activities of the last reporting year. The results of all exploration to date suggest that the ironstone body at Bluebird is mineralised with a typical Tennant Creek-style Cu-Bi-Au association. The distribution of spotty anomalous gold and the downward-opening configuration of anomalous copper below 50m vertical depth may be indicative of zonation with depth, another typical feature of mineralised Tennant Creek ironstones. Typically the smaller deposits have been small but high-grade once the gold-rich zone of alteration was discovered, such as the TC-8 deposit. There is compelling evidence in favour of downward zonation of mineralisation beneath the Bluebird ironstone, and as such deeper drilling to explore this possibility is warranted. A small program of RC drilling beneath the Bluebird ironstones was planned for the current dry season but acquiring a suitable rig to do such a small program proved impossible as demand in the region was great. It is hoped to complete this work during the next field season. During the later part of the reporting period a ground radiometric survey with a Gamma Spectrometer PGIS SP was carried out over the general area followed by soil sampling to test anomalous zones generated. The results of the work generated targets worthy of drill testing and this is planned to be conducted during the next field season.