Annual mineral exploration report Borroloola Project MLN 624, 1 January 2009 to 31 December 2009

Abstract

MLN 624 makes up part of Sandfire Resources's Borroloola Project, currently 18 tenements, which cover approximately 13,000 sq km. Exploration on MLN 624 continues an integrated exploration program for base metals along the Coppermine Creek Fault Zone which began in 2004 on EL 10121, and continues on current SEL 26938. Following tenement acquisition in 2004, geological mapping and research of historical exploration were carried out prior to a ground IP survey and drilling. RC/diamond drill hole BRCD1, completed in September 2004, intersected copper sulphide mineralisation along a steeply dipping structure within units of the Proterozoic McArthur Group sequence (Vieru, 2004, and Vieru, Roberts and Wynne, 2005). An infill ground IP was carried out during 2006 (Vieru and. Algie, 2007). Integration and re-interpretation of prior airborne Magnetic - Radiometric and EM surveys over the McArthur Basin sequence within the Borroloola Project tenement area was completed during 2007 (Lauricella and Algie, 2008). Orthophotos derived from the aerial photography acquired and processed during 2008, (Wynne, Lewis and Algie, 2009), are included as Appendix 1 to the 2009 Combined Annual and Surrender Report C068/09 (Algie, et.al., 2009). Interpretation by CSIRO of the helicopter borne versatile time domain electromagnetic (VTEM) survey, which was flow along the Coppermine Creek Fault Zone in July and August 2008, is included in Appendix E of the same report. Forty-five trays of diamond cored interval in BRCD1 between 132.00m and 405.20m were notified and offered to the NTGS Core Library, Darwin in 2008. These trays were not accepted so were subsequently transported to Sandfire Resources's Katherine storage shed in November 2008. No field activities were undertaken on MLN 624 during the period from 1 January to 31 December 2009. Desktop based interpretation of the Airborne VTEM geophysical survey, and tenement statutory reporting, were carried out. The annual expenditure Report for the reporting period 1 January to 31 December 2009 is included as Appendix 1.