Annual report AN 495 Lake Bennett Year 3 period ending 30 January 2009

Abstract

Korab Resources carried out a short radiometric and rock chip sampling program on the tenement before the wet season prevented further work. Several samples returned moderately anomalous gold values. Of specific interest is the Maureen Gold prospect that partly falls within the southern end of AN 495. This prospect was discovered by Kennecott Exploration in 1988 and tested by the following companies in subsequent years: BP Minerals, Freeport, Kakadu Resources, Minerals Resources Corp., Seltrust Mining, Northern Territory Gold Mines, Nicron Resources and Australian Gold Fields. The gold mineralisation at the Maureen Prospect is confined to quartz stockworks in the Koolpin Formation. Several Open File reports mention a highly weathered basic volcanic in the host rocks at the Maureen Prospect. This unit was correlated with the Zamu Dolerite but may be Mt Deane Volcanics which are known nearby in the area. In spite of considerable drilling a resource was never defined and the prospect remains undeveloped.