Group Annual Report for EL 8766, 23880, 23883, 23884, 23885, 23886, 26825, 28515, 28727, 28748, 29723, 29724, 29725, 29896, 25031, 25033, 25034, 25035, 25041, 25042 and 25044 Barrow Creek Project from 10 September 2014 to 9 September 2015

Abstract

The Barrow Creek Project is located approximately 320km NNW of Alice in the western Arunta region (Figure 1). By adding 25031, 25033, 25034, 25035, 25041, 25042, 25044 in December 2014 the number of granted exploration licences rose to 21, now including - EL 8766, 23880, 23883, 23884, 23885, 23886, 25031, 25033, 25034, 25035, 25041, 25042, 25044, 26825, 28515, 28727, 28748, 29723, 29724, 29725 and 29896. In December 2009, ABM Resources NL (ABM) purchased the project as Lander River JV tenements from Newmont. The new tenements were added to the GR162 technical reporting group in December 2014. ABM explores the tenement for the potential of gold mineralisation. During the reporting period the renegotiations with Clancy Exploration Ltd (ASX: CLY) ('Clancy') had not led to an agreement and the renegotiations were ended. ABM continued with its divestment policy by introducing potential JV partner Independence Group NL., Perth (IGO) representatives to the project area in general, and to the Waldron's Hill prospect (EL 23883) and Kroda prospects (EL 26825) in particular. Exploration included a reconnaissance trip and minor soil sampling. At Waldron's Hill (EL 23883) 18 soil samples were collected. The best gold assay result of 55.24 ppb was returned from sample BC13. Following field observations were noted: At the Waldron's shaft, and in the adjacent trench, the Au/Cu mineralisation is localised at the southern margin of a gabbro body contact with metasedimentary rock and granite; Brittle faults and joints in gabbro localised minor mineralisation. At the Kroda1 prospect, outcrop observed showed quartz veined and tourmalinised shear structures (with weathered sulphides and high As anomalism) is controlling, or is at least associated with, mineralisation. On a line north of Kroda 1 (EL 26825), near sample EMRK000040 quartz vein outcrop, which had previously returned an Au assay value of 3.73g/t, 3 soil samples were collected. Sample BC 20 returned the best gold value of 7.5 ppb. Panned soil samples collected adjacent to the EMRK000040 vein yielded at least 2 specks of visible gold. Field investigation revealed more partial outcrop of the EMRK000040 vein approximately 25m to the west and along strike of initial outcrop. Based on this field trip and previously completed work in 2012 it was suggested to produce a geological summary of the Kroda prospect area and to review data over the Waldron?s Hill area. 2013 recommendations and conclusions remained valid.