EL 23186 12th Annual Technical Report for period ending 15 November 2013

Abstract

The EL is composed of two historical prospects known as The Home of Bullion Prospect and Prospect D. The primary objective of the exploration is Gold and Base metals with the aim of delivering a JORC compliant inferred resource. During the current reporting period a total of 72 drill holes for 11,986m had been completed at Home of Bullion. In addition, 9 reverse circulation (RC) holes for 1136m were completed at Prospect D. The Drill programmes were undertaken in several stages. The first phase involved further delineation of the Main lode with RC and diamond drilling, of hole conductors were observed during DHEM Geophysical surveys that indicated an additional target south of the Main Lode. This was followed up in a second, third and 4th phase of drilling that extended both the strike and depth of mineralisation for the Main and Southern Lodes. Regional geophysical work undertaken include: Fixed Loop (FLEM) and moving-loop (MLEM) electromagnetics, down-hole EM (DHEM), ground-based gravity, and aerial magnetic surveys. This additional work generated several regional targets that are to be followed up in the 2013-2014 reporting period. Local structural mapping was undertaken by John Stewart whom developed a strong structural model for the regional and local geology which has been used to further generate targets at Home of Bullion.