Annual report on EL 25120 Pine Creek for the period ending 18 September 2012

Abstract

EL 25120 is located about 30 km north of Pine Creek and 180 km south of Darwin. EL 25120 was granted on 19 September 2006 to Myron Kulbac and Robert Michael Biddlecombe for a period of six years. In 2007, under an agreement Thundelarra Exploration Ltd/Element 92 Pty Ltd secured the rights to explore the tenement. Project area is located in the central part of the Pine Creek Orogen, a renowned region for gold, base meals and uranium mineralisation. Much of the project area is underlain by the folded Palaeoproterozoic rocks, intruded by late-orogenic granite. Rocks of the South Alligator Group dominate the geology of the project area and comprise the Koolpin Formation and Gerowie Tuff The Zamu Dolerite is folded within Palaeoproterozoic stratigraphy. Towards south, the McMinns Bluff Granite intrudes the stratigraphic sequence. During the reporting period, appraisal of geological and geophysical data was undertaken which identified gold, uranium and base metal potential of the project area. Selected parts of the project area were mapped and structural interpretation was made with the help of remote sensing, and geophysical data. This interpretation added much to our understanding of subsurface geology and geological setting in the regional context. It also identified several targets for further exploration. Other activities included, field visits, report writing, tenement administration and future planning. Interpretation of geological and geophysical data has provided significant encouragement for further exploration. In the next reporting period, the project area will be tested with ground radiometric survey and complimented with soil/rock chip sampling program. An orientated geochemical survey program is recommended to find out any geochemical anomalies. If encouragement is received, then selected targets should be tested with RC/RAB drilling. During drilling, drill chip samples will be retrieved from each meter interval and will be assayed for gold, uranium and base metals.