Borroloola Project EL 26555 Mineral Exploration Annual Report 11 April 2013 to 10 September 2013

Abstract

This annual report for the period 11th April 2013 to 10th September 2013 covers mineral exploration by Sandfire Resources NL (Sandfire) on EL 26555 which was previously part of the Borroloola Project Group Report Number GR121-13. Work done at Hells Gate during the reporting period includes negotiations for access, and subsequent road and track works for heavy vehicle access in preparation for a proposed 23 hole RC drilling program. This drilling program was proposed during 2012 following geological mapping and sampling, but held over until 2013 due to access difficulties. The geological mapping and rock chip sampling of the outcropping Sherwin Formation oolitic iron formation during 2012 had confirmed the high grade mineralisation of this unit along strike of the WDR Roper Iron Ore deposit. Following the access and pad preparation, RC drilling to test the structure, thickness and continuity of the mineralised horizon is scheduled to start during October 2013.