GR388 First Annual Report EL 30779, EL 30780 and EL 30786 for reporting period 22 October 2015 to 21 October 2016

Abstract

EL's 30779, 30780 and 30786 were acquired based on information provided in NTGS report 'Lead Zinc Deposits in the Strangways Metamorphic Complex'. Company reports were accessed and drill core inspected at Alice Springs core library. Pastoralists were contacted when it was decided to conduct a detailed airborne prospecting survey over the area. A Robinson 44 Helicopter VH XPL was used for 40 hours based out of Alice Springs and Gemtree Caravan Park. All known mineral occurrences were located by helicopter and those worthy of further investigation were resampled. Exhaustive traversing was carried out by helicopter with a resultant discovery of a large mineralised gossan outcrop which unfortunately turned out to be outside the boundary of the abovementioned EL's. A joint venture is now being discussed with Davenport Resources where the discovery is located. A total of 20 rock chip samples were submitted to NT lab Intertek for assay. High zinc and copper values are confirmed in two separate gossan outcrops (one previously known mineral occurrences i.e. Edward's Creek) and anomalous gold values in Harry's Creek occurrence. Following establishment of a JV with Davenport Resources it is proposed to carry out an airborne geophysical electromagnetic survey testing gossan areas for possible conductors (sulphides) at depth. Magnetite is a common associate of the gossans (Typical of VMS occurrences) so new detailed magnetic data is also planned for the next year.