EL 24115 and EL 24195 Bowgan Project Tenth Annual Report for the period 13 October 2013 to 12 October 2014

Abstract

The Bowgan project is located in the Barkly Tablelands region of Northern Territory, approximately 250 km northeast of the regional centre of Tennant Creek. The project consists of five exploration licences; EL 24115 (Bowgan) and EL 24195 (Benmara) which are the subject of this report, plus EL 29802 (East Benmara) and EL 30281 (Coanjula) which are contiguous to EL's 24115/95 and EL 24196 (Creswell Downs) is located 100km towards the south-west and are reported on separately. Exploration at the Bowgan project is currently targeting the potential occurrence of economic uranium, gold and base-metal mineralisation. Exploration field activity during the current reporting period included; completion of 153.6 line kilometres of ground magnetic surveying, collection of 1161 geochemical (soil) samples, geological mapping at 4 target areas which included the collection of 23 surface outcrop (rock-chip) samples. Ground magnetic surveys partly overlapped EL 29802. A program of XRF calibration testing was completed and a comprehensive report on the Coanjula diamond prospect was compiled by an independent geologist. Data collation, processing and interpretation work is currently ongoing. On-going exploration is proposed at the Bowgan project, with a focus to further exploration of a number of recently identified magnetic targets with the aim of targeting for a first-pass program of exploration drilling.