Lagoon Creek Project EL 23573 Annual Report for period ending 22 December 2015

Abstract

During 2015 LCR undertook a mineral systems review. The review comprised solid geology and structural interpretation; review of multi-element geochemistry, alteration mineralogy; short wave infrared spectral data collection and additional multi-element assaying of drill core; and sedimentological analysis. The VTEM data was reprocessed by GeoDiscovery and reviewed. One of the VTEM anomalies was also visited in the field and rock chips collected. The mineral systems approach review suggests there are strong pathfinder element and alteration signatures defined in the existing data. The key work still required includes amalgamating the regional data with mineralised and background data, together with the VTEM reprocessing. From this, it is anticipated a plot can be made to distinguish the distribution of pathfinders and alteration around the orebodies.