Annual Report Borroloola West MLN 624 reporting period 1 January to 31 December 2014

Abstract

MLN 624 makes up part of the Borroloola West JV under an agreement between Sandfire Resources NL and Pacifico Minerals Ltd, which comprises 14 granted tenements, and 1 application, as at 20 February 2015. Exploration on MLN 624 continues an integrated exploration program for base metals along the Coppermine Creek Fault Zone, which began in 2004 on EL 10121, and continues on current EL 26938. A comprehensive summary is presented in the 2008 Annual Report. Previous field activities undertaken on MLN624 during the period from 1 January to 31 December 2013 included soil sampling along a single transect oriented approximately EW (Fig. 1). The results show that all 6 soil samples were anomalous in copper (>200 ppm Cu) and indicate that application of the technique may aid exploration on the licence. A new geologic map at a scale of 1:10,000 was also produced for the licence and surrounding area. Desktop geophysical studies were carried out over the 2013 reporting period. This work included a re-interpretation of existing airborne geophysical data and satellite imagery, and 3D inversion modeling. The insights generated from geophysical inversion modeling help to improve prospecting and focus drill targeting, particularly in deeper and more complex subsurface environments. Details regarding the work carried out are presented in the 2013 Annual Report for MLN 624. During the period from 1 January to 31 December 2014 no exploration activities were undertaken on MLN 624. Field activities focused on the Mariner prospect located a couple of kilometers to the south on EL 26938, which MLN 624 resides.