First Annual Report on EPM 19169 – TELLEBANG for the Period Ended
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First Annual Report on EPM 19169 – TELLEBANG For the period ended 8 26 June 2012 Report prepared for ABx3 Pty Ltd by Jacob Rebek – Chief Geologist Date: 23 June 2012 PAGE LEFT BLANK INTENTIONALLY EPM 19169 Tellebang - First Annual Report | June 2012 CONTENTS 1 SUMMARY ...................................................................................................................................... 3 2 INTRODUCTION ............................................................................................................................. 4 Tenure Information ............................................................................................................................... 4 Tenement Location ............................................................................................................................... 4 Exploration Rationale ........................................................................................................................... 4 3 GEOLOGICAL DATA ...................................................................................................................... 6 Geological Setting ................................................................................................................................ 6 Geological Interpretation ...................................................................................................................... 6 4 WORK PERFORMED ..................................................................................................................... 7 Overview of Work Performed .............................................................................................................. 7 Knowledge gained from experiences at EPM 18014 Binjour ............................................................... 7 Geochemical Data .............................................................................................................................. 16 Geological Mapping ........................................................................................................................... 18 Geophysical Data ................................................................................................................................ 18 Remote Sensing Data.......................................................................................................................... 18 5 CONCLUSIONS AND RECOMMENDATIONS ............................................................................. 19 Recommendations for Exploration in Tellebang EPM: ...................................................................... 19 Proposed Work Program .................................................................................................................... 19 6 STATEMENTS .............................................................................................................................. 20 Statements of Resources / Reserves ................................................................................................... 20 Statement Describing Significant Mineralisation ............................................................................... 20 Statement of Compliance .................................................................................................................... 20 Statement of Proposed Activities........................................................................................................ 20 Copyright Statement ........................................................................................................................... 21 7 REFERENCES .............................................................................................................................. 22 | Page 1 EPM 19169 Tellebang - First Annual Report | June 2012 TABLES Table 1 EPM 19169 Blocks and Sub-blocks Composition ........................................................................ 4 Table 2 – Assay results for surface samples BL201 – 208 (see Appendix 1) ......................................... 16 MAPS Map 1 – EPM 19169 location map with plateaus with red soil marked by dashed red outline. ................. 9 Map 2 – Close up view of surface sample locations BL201 -208 ............................................................ 10 Map 3 – EPM 19169 Digital Terrain Model - ........................................................................................... 11 Map 4 - EPM 19169 Topographic Map (10m contours) ................................................................................. 12 Map 5 - EPM 19169 Topographic Map (10m contours) in more detail ............................................................ 13 Map 6 – EPM 19169 area viewed from Google Earth ............................................................................. 14 Map 7 – Western Red Soil Plateau and location of samples BL201-208 ................................................ 15 TABLE OF FIGURES Figure 1 – Western Red Soil Plateau – photo taken looking SE ............................................................. 16 Figure 2 – Western Red Soil Plateau – photo taken looking towards SE ................................................ 16 Figure 3 – Sample site BL207 – red mud ................................................................................................ 17 Figure 4 – Sample BL207 – red mud ...................................................................................................... 17 Figure 5 – Sample BL205 – red mud ...................................................................................................... 17 APPENDICES Appendix 1 – Surface Sample Assay Results | Page 2 EPM 19169 Tellebang - First Annual Report | June 2012 1 SUMMARY Exploration Permit for Minerals (EPM) 19169 “Tellebang” was applied for in order to facilitate an exploration program to discover economically viable deposits of bauxite associated with Tertiary Volcanics, in an area with old peneplained surfaces preserved as plateaus. In the first year of tenure, the following exploration program was undertaken in EPM 19169: 1. Detailed geological mapping, including geomorphological mapping, to define the areas with best potential for bauxite. 2. Systematic sampling of natural outcrops and exposures in road cuts of zones prospective for bauxite 3. Chemical analyses of samples, including specialist analyses to determine total and available alumina, total and reactive quartz, loss on ignition and other analyses as required in bauxite search Significant portions of EPM 19169 are plateaus with red soil – as seen on Map 1. Study of satellite images led to the conclusion that the plateaus in EPM 19169 are similar to the plateaus in neighbouring tenement EPM 18014 Binjour where a JORC Resource of 24.5 million tonnes was declared on 29 June 2012. Therefore one can expect that exploration by traversing and drilling will discover bauxite similar to the bauxite in the Binjour area. No reference to any previous bauxite exploration has been found during literature search for the area covered by Tellebang EPM 19169. Location is favourable and access is easy. EPM 19169 is located near the towns of Monto, Eidsvold, Mundubbera and Gayndah with skilled workforces and full contractor services. The tenement is also near the Burdekin River (abundant water – flowing all year around) and is near bitumen highways that connect the area to Gladstone and to Gympie. Furthermore, EPM 19169 is near the Gladstone – Monto – Gayndah – Maryborough railway. This railway is currently not in use but will probably be rehabilitated when the Monto / Mulgildie thermal coal mine – located at historic Selene underground coal mine 10km to the west of EPM 19169 is developed by Macarthur Coal and JV partners; distance by railway from Mulgildie coal mine to Gladstone is 200km. Even a relatively modest tonnage at EPM 19169 would be of interest due to its proximity to Binjour EPM 18014, Monto / Mulgildie coal project (at Selene) of Macarthur Coal Ltd. and Gladstone | Page 3 EPM 19169 Tellebang - First Annual Report | June 2012 2 INTRODUCTION Tenure Information EPM 19169 was granted to ABx3 Pty Ltd on 27 June 2011 for a two year period, covering an area of 50 sub-blocks. The sub-block composition is outlined in Table 1 below. The EPM is now in its second year of tenure, with this annual report being the first submitted for this EPM outlining the exploration conducted during the first year of tenure for the period ending 26 June 2012. The tenement is covered by a Level 2 Code Compliant environmental authority (EA), number MIC202607411. Table 1 EPM 19169 Blocks and Sub-blocks Composition BIM BLOCK SUB-BLOCKS BRIS 665 V W BRIS 736 J K N O P R S T U V W X Y Z BRIS 737 A B F G L M N Q R S V W X BRIS 808 A B C D E F G H J K L M N O P BRIS 809 A B C F G H TOTAL 50 Sub-blocks Tenement Location EPM 19169 is located approximately 12 km north north-east of Tellebang in southeast Queensland and is featured on the Channer Creek (9148-22) 1:100,000 topographic map sheets. North Burnett Regional Council is the governing local authority. Exploration Rationale Significant portions of EPM 19169 are plateaus with red soil – as observed on Map 1. Study of satellite images led to conclusion that the plateaus in EPM 19169 area are similar to the plateaus in neighbouring tenement EPM 18014 where a JORC Resource upgrade of 24.5 million tonnes was declared on 29 June 2012. Therefore one can expect that exploration by traversing and drilling will discover bauxite similar to the