GR057 Combined Annual Report for the Northern Project Area 16 August 2011 to 15 August 2012

Abstract

Exploration activity conducted over NPA was mainly focused at EL 28777 and consisted of initial drill testing the identified HeliTEM targets around the Gecko Mine, which resulted in the discovery of the Goanna and Monitor prospects, then further drilling of the two new discoveries to further identify the potential economic mineralisation and continue the development of the exploration model for testing HeliTEM targets. Drilling details were as follows; RC drilling - 24 Holes (GRC1360, GRC1361, GRC1362, GRC1364, GRC1366, GRC1367, GRC1369, GRC1371, GRC1374, GRC1375, GRC1377, GRC1379, GRC1381, GRC1382, GRC1383, GRC1384, GRC1386, GRC1387, GRC1388, GRC1391, GRC1392, GRC1394, GRC1395, GRC1396) for 8,1423m; DDH Drilling - 27 Holes (GODD004, GODD001, GODD002, GODD006, GODD007, GODD008, GODD009, GODD009WR1, GODD010, GODD011, GODD012, GODD012WR1, GODD013, GODD014, GODD014WR1, GODD015, GODD015A, GODD015WR1, GODD015WR2, GODD016, GODD017, GODD018, GODD019, GODD020, GODD021, GODD022WR1, GRC1373) for 12,153.28m. Geophysical Surveys - Consisted of IP surveys. The IP surveys were used as a method to constrain drill targets in 3D space more particularly in the vertical component, and was used extensively as drill targets within the broader HeliTEM anomaly zone. The most significant factor in the application of HeliTEM has been the Goanna and Monitor discoveries (in the Gecko Area) as it occurs in subdued magnetic signatures, therefore confirming that magnetic anomalies are not the only potential hosts for economic mineralisation in the Tennant Creek Field. Emmerson commenced drilling in a perpendicular to strike of the identified structural orientation, this drilling identified four shear zones, which has subsequently increased to five shear zones (termed northern, central, southern, far southern and far northern shears) through subsequent drilling, as well as defining shear zones the drilling intersected significant mineralisation. Drilling continued in this perpendicular orientation until it was realised that structurally the mineralisation had a plunge.