First annual report on Fenn Gap Project EL 24839

Abstract

The Fenn Gap pproject is located approximately 25 kilometres south west of Alice Springs in the Northern Territory. The project is 25 kilometres from major infrastructure such as the Stuart Highway and Alice to Adelaide Railway. The project comprises one EL 24839 which covers a total area of 98.82km2. This report describes the results of literature research and target generation based on re-interpretation of magnetic/radiometric data carried out during the first year of the Licence. Recently, Genesis completed reconnaissance rock chip sampling program was conducted over the historical identified Fenn Gap prospect in December 2008. Moderate to high grade iron assay results were obtained throughout the 9.9 kilometres strike length with moderate to high grade manganese was outlined in the Table Prospect area. During the course of February 2009, Genesis completed a ground gravity survey over 7 kilometres around the main outcropping mineralisation that may represent large ore zones required for iron ore mining. The survey has been successful in defining broad scale gravity anomalies which can be correlated in most instances to mapped outcrop and goethite/manganese mineralisation. The residual filtering and modelling has highlighted local areas of gravity anomalism which indicate areas of higher density, and it is recommended these be followed up by a drilling campaign to suitably test these areas. The modelling showed that a source bodies with widths of 30-40m, 100m depth extents and similar strike extents to the mapped mineralisation provided a good correlation to the gravity anomaly. All model bodies had dips 70 to the south and are located to the north of the gravity anomaly, which suggests that the gravity response is due to a down dip component rather than the surface mineralisation.