Annual Technical Report Year Three 25 November 2012 to 24 November 2013

Abstract

The deteriorating price for gold during the last 12 months and the increasing challenges in securing equity funding resulted in a comprehensive strategic and economic exploration review of Blue Thunder's commitment to this gold project. The postives of the project is the optimally location from an infrastructure perspective and that the presence of gold mineralisation has already been demonstrated. The limited exploration within the larger project area has shown the presence of a larger area and drilling has shown favourable indications for a large gold system, permissive of hosting a large size gold system. The negatives of the project are the deep occurences of gold mineralisation and the associated exploration costs. In addition any economic operation likely requiring suffient vapital and ore grades to support and underground operation. The remaining area of EL 28016 that appears to forms the southern section of the magnetic and mineralised trend of EL 27732 remains a valid target but dimished quickly to the south. The localised intrusion of a late stage granite demonstrates the low pressure and liational site around the structural intersection betyween the norther trending regional shear zone and a NE-SW cross structure. Proximity to a granite is important for gold mineralisatiuon at Pine Creek in order to provide a suitable contrast benween the thermally metamorphosed areas and the more ductile desiments. Further exploration should focus in this local area increasing the soil geochemistry coverage, which should be a valid exploration tool given the geochemical leakage that would be associated with the shear zone and structural intersection. Ground gravity and magnetic surveys will help map the target magnetic stratigraphy and greenstone (dolerite) associations.