Mount Shoobridge Project EL 24528 Annual report for the period 24 November 2007 to 23 November 2008

Abstract

Exploration completed during the reporting period included rock chip sampling and RC drilling at the Phillip Greets copper mine. During the reporting period, a number of rock chip samples were taken from the Phillip Greets and Pyromorphite prospects. Encouraging results for copper were returned from mullock heaps (quartz-malachiteazurite veined sediments), with up to 31.1% Cu from sample 110285. Pyromorphite consists of four shallow caved in shafts sunk on a ferruginous quartz vein containing secondary lead minerals (cerussite, anglesite, pyromorphite and relict galena). The vein extends for 150m and is generally less than 1m wide. There is a small smelting furnace nearby. One shaft, originally 3.6m deep had been sunk on a 1.2m wide lode containing pyromorphite, cerussite and galena. A pit about 15m southeast of the shaft (country rock and lode strike NW-SE) also contains cerussite and pyromorphite. An additional pit some 15m northwest of the shaft exhibits cerussite, galena and pyromorphite on the dump. About 305m north-northwest of the main show is a small pit in grey, micaceous siltstone with containing cerussite and pyromorphite. Seven rock chip samples were taken from the Pyromorphite prospect. Eight RC holes were initially planned to test for massive sulphide mineralisation below the shallow workings and mine shafts at the Phillip Greets prospect. In late September 2008, Johannsen Drilling completed six holes for 700m using a SuperRock 5000 RC rig. Each metre was split, sampled and magnetic susceptibility readings recorded. Samples were sent to KalAssay Laboratories in Perth for U, Th, K, Au, Cu, As, Pb, Zn and Fe analysis. Standards (GBM-999-3) were included at specific intervals. Of the four holes that were planned to test the ground under the main workings, only three RC holes were drilled (PGRC001 to PGRC003) due to lack of encouraging sulphide mineralisation. A series of sandstones, schists and quartzites displaying minor epidote alteration contained fine grained, disseminated pyrite (up to 15%), and very minor chalcopyrite. An additional four holes were planned on line 8501527mN, 400m to the south. Two holes (PGRC004 and PGRC005) were drilled towards the east in order to test for sulphide mineralisation beneath shallow workings containing abundant copper oxides in sediments. Disseminated pyrite was common in the quartzite horizons (up to 5%), with only very minor chalcopyrite intersected in PGRC004. Two holes were planned to test the ground 150m to the west, where historic soil sampling by United Uranium in the 1960's delineated a strong north-south trending copper soil geochemical anomaly. Only one hole was drilled (PGRC006), intersecting silicified biotite sandstones containing only trace pyrite. Results were disappointing with broad intervals containing only slightly anomalous copper levels. Best result was 1m at 2.09% Cu and 5.8g/t Ag from 104m in PGRC002. Sections are currently being compiled and will be included in next years Annual Report.