Hells Gate Project EL 26555 Mineral Exploration Annual Report 11 September 2013 to 10 September 2014

Abstract

Work done during the reporting period includes drilling 12 reverse circulation holes of the 23 planned to test the structure, thickness and continuity of the mineralised Sherwin Formation oolitic iron oxide horizons along the Western Ridge and around the Eastern Syncline. This drilling program was proposed during 2012 following geological mapping and sampling which had confirmed the high grade mineralisation of this unit along strike of the WDR Roper Iron Ore deposit, but held over until 2013 due to access difficulties. The RC drilling programme was completed between 25th October and 4th November and included sampling nine drill holes followed by laboratory-based XRF assay, and downhole geophysical wireline logging of six drill holes. Three originally unsampled holes barren of iron mineralisation were sampled at the end of the reporting year, with results to be presented in the 2015 Annual Report. Rehabilitation of the drillholes and tracks commenced towards the end of this reporting period and continued into the ensuing reporting period. The best drilling results obtained for each of the two outcrops were 3m at 60.2 percent Fe including 1m at 63.9 percent Fe from drill hole 13HGRC008 on the Western Ridge and 5m at 48.3 percent Fe, including 3m at 53.3 percent Fe from drill hole 13HGRC003 on the Eastern Syncline.