8th Annual Report for EL 24539 period ending 15 August 2013

Abstract

During the current reporting period, the tenement holders were issued with a new Authority Certificate by AAPA that permitted drilling and related land disturbance activities within a limited 35Ha area but with associated restrictive conditions. A Mining Management Act Authorisation was obtained and extensive cultural heritage clearance surveys were conducted followed by a RC and diamond coring drill program to test the priority geophysical targets within the available area. A total of 3 reverse circulation drill holes were completed for a total of 250 metres, with 2 of the holes, testing a 200m strike length of the primary target, continuing with diamond core tails for a total of 485m of coring. With the drilling program finishing near the end of the second year, detailed geological logging, petrography and analytical analysis of the drill chips and core will be undertaken and reported on for the next period. Preliminary inspection of the core confirmed however, that the source of the geophysical anomaly is most likely due to magnetic pyrrhotite sulphide that occurs in association with other sulphides present in significant quantities throughout the tested lithological sequences.