Combined annual report for Exploration Licences 8766, 23880, 23883, 23884, 23885, 23886 and SEL 26825 Barrow Creek Project from 10 October 2010 to 9 October 2011

Abstract

ABM explores the tenement for the potential of gold mineralisation. Exploration during the year included reconnaissance trips, surface sampling, geological assessment and drilling. The reconnaissance trips covered two known prospect sites (Waldron's Hill and Harrison) and a newly defined prospect site (Eleanor) where surface samples were taken from outcrop and lag. The best overall assay result from the surface sampling was 0.369ppm Au from a quartz lag sample (sample ID ELRC100001) which was collected near the Eleanor Prospect area on EL 23885. All other samples retuned background values apart from two, which showed slightly elevated (0.156, 0.126ppm) gold values. All the samples were also assayed for a wide range of elements showing anomalous increases in copper and arsenic in some samples. At the Kroda 3 prospect area the drilling program encountered several high grade intersections which confirmed and extended the magnitude of previously encountered mineralisation in Newmont drill holes. The mineralisation is hosted in inferred steeply dipping shoots of quartz in layered dolerite and schists. The best intersections returned included: 3m at 11.83ppm gold in hole KRRC100004 (1.0g-t cut-off); 12m at 15.69ppm gold in hole KRRC100013 (1.0g-t cut-off); 24m at 4.28ppm gold in hole KRRC100014 (1.0g-t cut-off); and 12m at 4.76ppm gold in hole KRRC100015 (1.0g-t cut-off).