Reward Project, Group Report GR248 for the period 24 March 2013 to 23 March 2014 EL 10316, EL 30042, EL 26406, EL 27541

Abstract

Exploration over the period 24th March 2013 to 23rd March 2014 by Teck Australia Pty Ltd included relogging of historical core, field mapping, geochemical sampling, diamond and RC drilling (5143.55m and 174.4m respectively), petrophysical studies, and basin modelling predominately over the Teena -Boko prospective corridor. A total of 4 holes (diamond combined RC drilling - 5317.95m) were successfully completed between July and September 2013. Higher grade stratiform Zn-Pb mineralisation was intercepted in all effective holes. Five historical drill holes of the Teena prospect recovered from McArthur River Mine in Q2 2012 were relogged and selectively re-assayed during Q1 2013. A minor field mapping campaign concentrated on delineating the BHF within tenured ground and establishing the veracity of historical mapping was completed concurrently with the drilling program. A surface geochemical campaign was also completed expanding on previous sampling campaigns. This expanded the footprint of the Pb and Zn soil anomalies centred on the Reward Prospect Following the drilling program key lithological characteristics were identified and correlated between holes. A comprehensive structural analysis based on core observation and the statistical analysis of downhole data sets identified large and small scale structural trends through the basin, and aided in refining the geometry of the Teena sub-basin. The 2013 program was completed in consultation with the Gurdanji and Garawa Traditional Owners, with the support of the Northern Land Council. Members of the community were on site during significant ground disturbances, which included drilling activities. Post campaign feedback from the Traditional Owners was positive. Following the campaign, drill pads were cleared of rubbish and initial rehabilitation earthworks were undertaken prior to the onset of the wet season. More comprehensive rehabilitation will be undertaken in 2014, after access to the site is regained.