Annual combined report GR204-11 on EL 25868 and EL 27365 for the year ending 11 January 2014

Abstract

During the reporting period under review, exploration activities included geological mapping, ground-truthing, soil/rock chip sampling and data interpretation. A technical review of the available geological, geochemical and geophysical data was also undertaken to understand mineral potential of the project area. A soil geochemical survey was also undertaken and samples were assayed by in-house portable Delta XRF Analyser. A total of 42 soil samples were assayed. An examination of assay data show that it is characterised by elevated levels of Co, Ni and Cu. Cobalt varies from 1 to 21 ppm with an average of 9 ppm. Ni is present in some samples up to 31 ppm. Cu and Zn are also high and are present up to 47 ppm and 1433 ppm. Appraisal of geological, geochemical and geophysical data indicates that the Masson Formation is prospective for gold, uranium and base metal mineralisation, particularly where it is intruded by the Allamber Springs Granite. Greisenised part of the Allamber Springs Granite is indicative of generation of hydrothermal system responsible for mineralisation in the adjacent sediments. It is recommended that exploration targets should be tested with drilling.