EL 29475 Adnera Hill Neutral Junction Project Second Annual Report for the period 11 January 2014 to 10 January 2015

Abstract

Adnera Hill EL 29475, is located 250 km north of Alice Springs and comprises part of the Neutral Junction project. Bowgan Minerals Limited is the current operator of the tenement. Exploration is currently aimed at identification of potential occurrence of economic gold, silver and base metal mineralisation within an iron oxide-copper-gold ('Tennant Creek style' IOCG) setting. Known anomalies have been previously identified by Bowgan immediately to the north of EL 29475 with exploration currently focused towards exploration along the currently delineated and prospective structural corridors. Exploration activity completed by Bowgan at Adnera Hill (EL 29475) during the current reporting period included; completion of 33.65 line-kilometres of ground magnetic surveying, completion of geological mapping and limited outcrop sampling, including collection of 5 rock chip samples during October 2014. Preliminary review of the ground magnetic dataset, cutting and cataloguing of rock chip samples, submission of samples to ALS Chemex for chemical analysis and interpretation of results was completed at the conclusion of the field program. The recent exploration on EL 29475 has confirmed magnetic anomalism and anomalous results within rock chip samples for a distance of several kilometres along the southward extension of the Ooralingie Fault corridor. A new and highly prospective 'target' corridor has been identified as a consequence. Further east, magnetic surveying completed at the Skarn target area has identified the potential extension of the previously identified magnetic anomaly for a distance of up to 1 kilometre into EL 29475 along a south-eastern trend which has added to the exploration potential of the this target as a consequence. A program of infill magnetic surveys is currently proposed for the next reporting period.