Ninth Annual Report on EL 25313, EL 28006, EL 28007, EL 28951 and EL 28952 from October 2015 to 30 September 2016 Caranbirini GR179 McArthur River Project

Abstract

Exploration in the most recent term included a gravity survey, geochemical sampling of diamond core, geological mapping sampling and the interpretation of the previously flown airborne Electromagnetic (EM) induction survey. In September 2016 Atlas Geophysics commenced a detailed ground gravity survey at intervals of 500m as part of a larger survey covering Marindi's combined land holdings at Caranbirini. At the time of writing this report the survey was still underway and approximately 50% complete. This gravity survey was initiated in collaboration with the CSIRO and is part of a joint geological, geophysical and geochemical program with a budget of approximately $150,000, which is scheduled for completion in April of next year. The aim of the program is to generate a 3D model of the tenement with emphasis on the Barney Creek Formation. CSIRO have already completed detailed geochemical and geological logging of historic diamond drill-holes stored at the Darwin core library and have commenced interpretation of the airborne EM data. No data is to hand and the full results of the CSIRO collaboration will be reported in the next reporting period.