Final Report for EL 23639 Kiana Project

Abstract

EL 23639 (Kiana Project) originally covered an area of about 529km2 (161 blocks) on the Wallhallow 1:250,000 sheet in the southern section of the McArthur River Basin and is regarded as being prospective for base metal and diamond mineralization. Four copper occurrences in Palaeoproterozoic rocks adjacent to major faults structures in the western section of EL 23639 indicate potential for replacement-style base-metal mineralisation. Diamond indicator minerals (chromite and micro-diamonds) are reported from drainages in Palaeoproterozoic folded and lightly metamorphosed rocks in the west of the tenement and less deformed Cambrian rocks overlying a Palaeoproterozoic basement in the east. A review of the regional geomorphogical and geophysical data-sets that cover the tenement, including digital terrain, magnetics, radiometrics, gravity, ASTER and LANDSAT, each show that the tenement is transected by major NNE to NE and NW trending structures that could act as conduits to mineralizing solutions. These features delineate different geological terrains within the project area and allow field programmes to identify favorable zones with the potential to host mineralization. A review and compilation of the open report data from the NTGS into MAPINFO GIS was undertaken during the 2005-2006 year. The detailed prospect mapping, geochemistry and geophysical data for the lease revealed several potential copper or zinc targets, particularly in the Wollorgorang Formation and Settlement Creek Volcanics. These targets were investigated during the 2006-2007 year in a reconnaissance, exploration and sampling trip conducted in conjunction with Hardrock Integrated Mining Solutions. An application to relinquish 50% of the licence area was made in the first quarter of the 2008 calendar year. The area relinquished was predominantly in the eastern half (80 blocks) of the EL. An overview of the works undertaken over the term of the exploration licence is provided herein including on the area relinquished at the conclusion of year 5. No further works are proposed on EL 23639 which has been relinquished consistent with the terms of the licence.