Third Annual Report EL 28462 Daly River Area period ending 14 July 2014

Abstract

Work carried out on EL 28462 in the third year of tenure included rock-chip and soil sampling over areas of quartz veining and pegmatites, and the drilling of a single 401.7m deep diamond drill-hole on an EM conductor. A total of 34 soil samples, 10 rock-chip samples, 18 pegmatite suite re-assays and 21 drill core samples were collected during the period. Samples were analysed for multi-elements. Target commodities were precious metals, base-metals, tin-tantalum and graphite. While the conductor targeted in diamond drill-hole MDD003 proved to be graphitic rather than the hoped for base-metal sulphide body, total graphitic carbon analysis of the few samples taken suggests some potential for graphite mineralisation. Preliminary surface geochemical assessment of selected pegmatite outcrops has yielded relatively high grades of tin and tantalum mineralisation which require further follow up by more systematic sampling and geological mapping. Soil sampling and rock chip sampling over regional scale quartz-veining in the Litchfield Granite has not identified any significant mineralisation.