Annual Report on Mineral Tenement EL 27961 Year 4

Abstract

Work completed during the reporting period included; desktop studies; data search and analysis, literature research, interpretation of existing data and reports; and fieldwork including on-site reconnaissance, prospecting and sampling (26 rock samples) in the targeted areas. These three area were the 'Davidson's Gold' area were sample DV-01 returned results of 2.71 g-t Au. The sample was also elevated in arsenic, copper, antimony and tungsten (110 ppm As, 685 ppm Cu, 30ppm Sb, 30 ppm W) and very strongly anomalous in bismuth (1335 ppm Bi). The bismuth association is characteristic of the ironstone-related gold deposits of the Tennant Creek region further north (also in Warramunga Formation rocks) but there is no evidence of ironstone associated with Davidson's. The East Area, were assay results from the six samples indicate no significant anomalism at all in these rocks, despite the veining and iron enrichment (up to 15.1 percent Fe). Potassium assays were comparatively low (maximum of 2.05 percent K), suggesting low feldspar content and hence probably not felsic Epenarra Volcanics. No geochemical anomalism of interest was found in the deformed, veined and overprinted rocks of this ridge, but the source of the magnetic anomaly several hundred metres to the south, and at depth, remains unexplained, and its mineralisation potential is still untested. Ath The Priester's Gold Occurrence Area samples PR-01 and PR-05 returned 1.49 g-t and 8.85g-t Au respectively. Four other samples returned low-grade gold assays, of the order of 0.1 to 1 g-t gold. Several samples were below detection, and it is likely that these represent the main thick, shallow-dipping white quartz vein at this site. The shear was 5-15cm thick, comprising quartz veining and bleached wallrock material. This suggests that gold mineralisation post-dates the main thick white quartz vein (or is from a later stage in the same veining event) and therefore the large vein is no indication of how much mineralisation might be present.