EL 24654 Annual exploration report ending 4 December 2010

Abstract

EL 24654 is a granted lease in its fifth year of tenure in the Redbank Copper operational area in the Northern Territory. Work undertaken during the period was directed by the company's exploration and regional exploration managers, and completed by specialist external consultants Company employees and contractors. Key preparatory activities involved the regional compilation of all open file and available geophysical, geochemical and geological data. This compilation has been indexed and georeferenced with point extraction of data where required. Detailed geophysical interpretation was completed over the tenement to develop a more refined geological and structural framework with subsidiary target generation for follow up. Field work, although delayed and restricted by abnormally wet ground conditions during 2010, included ground mapping, rock, ionic geochemical stream and soil sampling programs, and reconnaissance RC drilling. The work produced a detailed geological/structural map, with 19 priority geophysical targets, identified a high priority base metal target requiring further ground geophysics and drill testing, and 9 catchment target areas from the helicopter supported stream sediment survey.