Year 5 Annual Technical Report for EL 27412 Rosewood 29 January 2014 to 28 January 2015

Abstract

EL 27412 lies 80km south-east of Kununurra WA, and encompasses a portion of the Rosewood Station. The tenement covers 2 small bullseye style magnetic anomalies adjacent to a regional NE trending fault. A literature review and magnetic interpretation confirmed the area is of interest and requires further follow up work. The third year exploration program concentrated on the magnetic anomaly area. A ground gravity survey was conducted over at least one of the anomalies, and toward the eastern edge of another. An isolated gravity 5mGal anomaly was discovered coincident with the NE magnetic anomaly. A recent aeromagnetic survey commissioned by JV partner 'Metal Rocks Pty Ltd' acquired data at 100m spacing for 455.6km. The survey confirmed the two anomalies. 3D inversion modelling indicates the depth to the magnetic source ranges from 600-900m. The source of the coincident gravity and magnetic anomaly remains a mystery. Potential scenarios include; significant magnetite accumulations in the Cambrian flood basalts, Proterozoic intrusives in the basement complex or alternatively Cambrian gabbroic intrusive sills at depth. Although previous explorers have tested these concepts elsewhere, a Norilsk style deposit has not been discovered in the Kimberley region at all. A submission for NTGS Co-Funding drilling was lodged and granted during 2014. Drilling is scheduled for 2015.