Westminster Project Combined Annual Report for the period 26 October 2012 to 25 October 2013 MA 25952, MA 26500, MA 26558

Abstract

During the 2012 to 2013 reporting period Truscott chose not to proceed with drilling activities but concentrate on research, mapping and acquiring Joint Venture Partners. Further Truscott ascertained that the primary need for future successful precision drilling and resource estimation depended on tighter structural controls over the Westminster Tenements. Successfully achieving this goal demands extreme focus on mapping and research which is not always possible during time consuming, multiple drilling activities. Mapping began by examining small scale structures within the Westminster Project and comparing this with previous mapping, ground based gravity surveys and drill results, a strain analysis model was then produced. This model was checked and rechecked with more local and then regional structures for accuracy. Truscott's project and regional field mapping with subsequent structural/strain analysis show similar features at all scales across the Warramunga Sedimentary Basin. The company's research into the structural controls and mineralising events continues to increase the effectiveness of the structural model being developed as a tool to successfully predict the sites for high grade gold mineralisation. A series of stacked Ironstone arrays are mapped as outcropping along the extent of the Westminster active exploration area. Each of the mineralised arrays has the potential to host a significant Tennant Creek style ore body at depth and accordingly they are each currently being assessed as such.