Year 2 Annual report EL 27526 Ooratippra project for the reporting period 3 March 2011 to 2 March 2012

Abstract

During year 2 CKA completed a 200m infill gravity survey (using Atlas Geophysics) at two prominent targets; Anomalies A and B. These anomalies are not within EL 27526 but the edges of the survey were, with a total of 175 measurement positions within the tenement. Analysis of significant gravity anomalies was carried out by geophysical consultant Frank Lindeman of Lindeman Geophysics Pty Ltd and an exploration assessment of the whole project was completed by the author, a consultant exploration geologist. A government collaboration application proposing 1 hole for 800m targeting a gravity model of a significant gravity anomaly (based on an IOCG exploration model and analogies with Olympic Dam) was commenced during the reporting period and submitted at the end of March 2012. The work completed during the period has shown the tenement and the Ooratippra project to have significant potential for the discovery of IOCG style mineralisation beneath the Georgina Basin cover. Also significant potential exists within the cover sequences for Phosphate mineralisation and Mississippi style mineralisation. Further work is planned for year 3 with the drilling of a deep (800m) diamond hole at anomaly F and also drilling of a shallower diamond/RC hole at anomaly D. Infill gravity surveys are also proposed for year 3 for select anomalies within this tenement. Phosphate exploration is recommended with geochemical sampling and a small RAB program proposed.