Annual report EL 24818 Year 4 period ending 17 January 2010

Abstract

Field activities on Korab Resources' EL 24818 in Year 4 consisted of detailed traversing with continued emphasis on the delineation and sampling of the Mount Deane Volcanic unit. A partial waiver of reduction of blocks was applied for and granted. In addition, with the release of the publicly available Geoscience Australia airborne AEM data, the company has acquired and interpreted this data for the eight lines that cross over EL 24818. This presence of the Mount Deane Volcanics, although not yet fully defined on the ground, and now apparently varying considerably in mineralogy and petrology is of continuing interest. Samples from the weathered ultramafic phase of the Mt Deane Volcanics have returned some anomalous in Ni, Co, Cu and Zn but values are considerably lower in those elements relative to samples from that phase on adjoining tenements to the south. Samples from the 'carbonate' rich phase have much lower base metal values and no significant Au values as predicted in the Pontifex report. The AEM data that has been examined shows up some stratigraphic units remarkably well, such as the Burrell Creek Formation. There seems to be however less conductivity variation in the Koolpin, Gerowie Tuff and Mount Deane Volcanics. A more detailed examination of the AEM data may allow better definition of the target Mount Deane Volcanics. This would be useful as that unit does not outcrop well as it is often hidden under talus slopes of the Acacia Gap Quartzite.