Annual Technical Report EL 29347 Yambla for the reporting period 13 September 2013 to 12 September 2014 Year 2

Abstract

EL 29347 'Yambla' is located approximately 140 km northeast of Alice Springs. Access into the area is reasonable, via the Ross Highway, through the Arltunga Historical Reserve to Ambalindum Station, past Claraville Homestead and then by station tracks. During the reporting period Core Exploration completed a review of the past exploration covering EL 29347 with an assessment of the current mineralisation models applicable for the tenement's geological setting. EL 29347 covers the contact between the Neoproterozoic Irindina Province and the southwestern corner of the Entia Dome in the Aileron Province. Recent exploration successes within the Irindina Province have focused on the Cu - Ni Co potential within the Riddock Amphibolite as well as in post-Cambrian undeformed ultramafic intrusives (Lloyd Gabbro) which intrude into the Irindina Province. A number of reported metal occurrences are located within the western part of EL 29347 within mapped Riddock Amphibolite, including the Boots Prospect. Core believes the Irindina Province Cu- Ni Co mineralisation models to be encouraging and decided to explore for this style within EL 29347. Core undertook active exploration in the form of reconnaissance field trips to EL 29347 to ground truth the Yambla uranium prospect, Boots Prospect as well as mapped Riddock Amphibolite or ultramafics within the Irindina Province. Core was unable to locate any significant mineralisation at the reported location of the Boots Prospect with a best received rock chip assay grading 0.2% Zn. Core's most encouraging rock chip result was 4.4% Cu, 0.17 g/t Au and 24.1 g/t Ag (sample 1254) from an isolated malachite bearing foliated granitic unit within the Riddock Amphibolite in the south eastern corner of the tenement.