EL 24770 Litchfield Annual report for the period 4 April 2010 to 3 April 2011

Abstract

Given the improved understanding of the prospectivity of EL 24770 it was decided to fly the northern half of the tenement (along with all other Compass tenements at Batchelor) with helicopter borne aeromagnetics and EM. The survey was completed by GPX Surveys in late 2010 with flight lines at 150m spacing, orientated north-south and with a terrain clearance of 30m. East-west tie lines were spaced at kilometre intervals. This generated approximately 90 line kilometres of data within EL 24770. Processing of the data commenced in early 2011 and unfortunately an error was detected in the helicopter altimeter readings used in the survey requiring correction and considerable reprocessing. At the time of writing this report Compass Resources was yet to receive the final, corrected data from this extensive survey. Upon receipt of the final geophysical data magnetic and electromagnetic targets will be selected for ground follow up and drilling.