GR145 Walabanba Project Group Annual Report 5 March 2013 to 4 March 2014

Abstract

The project comprises three exploration licences (EL 26848, EL 27117, EL 27876), covering an area of approximately 880 km2 in the north-central portion of the Paleoproterozoic Arunta Province. Enigma signed a Heads of Agreement (HOA) with the Australian uranium exploration and project development company, Toro Energy Limited in April 2012. The agreement gives TNG the right to explore for all minerals except uranium within EL 26848, EL 27115, and EL 27876. Enigma took out the JV agreement with a view to exploration for primary base metal sulphides, nickel and magnetite hosted vanadium-titanium, as found in the Mount Peake Fe-V-Ti deposit to the east. Target areas were identified from the HELITEM survey in 2012 and many were recommended for geochemical surveys, ground EM and potentially drilling follow-up. On-ground follow-up of targets was completed in June 2013. A portable XRF was used for sampling and eleven samples were sent for multi-element laboratory analysis. A lack of outcrop in the immediate target areas made it impossible to identify a geological source for many of the targets. Many still remain as valid target areas and require either ground EM or drilling to determine the reason for the conductor source being present. A ground EM survey is being carried out on three priority targets in April 2014.