Group Annual Report for EL's 8766, 23880, 23883, 23884, 23885, 23886, 26825, 28515, 28727 and 28748, GR162/12 Barrow Creek Project from 10 September 2011 to 9 September 2012

Abstract

ABM explores the tenement for the potential of gold mineralisation. Exploration during the year ending 9 September 2012 included reconnaissance mapping, surface sampling and an airborne geophysical survey. The airborne electromagnetic (AEM) survey over the Kroda prospect area comprised a total of 1,519 line km with a 200m line spacing. The survey covering 313.4km was completed by Fugro Pty Ltd. The survey data was processed for interpretation by Fathom Geophysics. The AEM survey deciphered 12 anomalies. Six of these anomalies can be interpreted together as a single 2km long x 50m wide conductor of a magnitude comparable to one of a sulphide conductor. This electromagnetic anomaly has been named the 'Emma Prospect' and coincident with a surface copper anomaly. In conclusion the electromagnetic anomalies warrant, according to their ranking, a follow up drill program. The mapping project at the Eleanor Prospect area recognised two high priority targets and at least 30 other potential target sites. Most of the mapped area was also covered by a geochemical survey. The best overall gold assay result was 0.46ppm Au from a rock chip sample (ID EL100003) located 2.8km SE of the Harrison Prospect on EL 23885. At the Eleanor prospect area leveled gold assay data shows two anomalous zones with Au and As results providing a similar response. The geochemical anomalies of the soil sampling survey warrant further work and will be followed up with either infill geochemical sampling and / or RAB or RC drilling. Further mapping will also help to define drill targets. The high priority target defined by the mapping project has been untested by any means, and warrants a geochemical soil sampling program as an initial test.