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Epm 16511 Brodies Lookout Investigator Resources Limited: Surrender and Final Report EPM 16511 “Brodies Lookout” Investigator Resources Limited Suite 48, Level 3, Benson House 2 Benson Street, Toowong, Qld 4066 Tel: +61 (0)7 3870 0357 Fax: +61 (0)7 3876 0351 Email: [email protected] web: www.investres.com.au EPM 16511 BRODIES LOOKOUT SURRENDER AND FINAL REPORT for period 27 April 2009 to 26 April 2011 D G Jones and B R Willott Investigator Resources Limited 6 September 2011 Page | 1 Investigator Resources Limited: Surrender and Final Report EPM 16511 “Brodies Lookout” 2 TABLE OF CONTENTS 3. SUMMARY ...................................................................................................................................................... 4 4. INTRODUCTION ............................................................................................................................................ 5 4.1. TENURE ....................................................................................................................................................... 5 4.2. LOCATION ................................................................................................................................................... 6 4.3. LOCAL ACCESS ........................................................................................................................................... 7 4.4. EXPLORATION RATIONALE ......................................................................................................................... 8 4.5. PROGRAM UNDERTAKEN .......................................................................................................................... 10 4.6. PREVIOUS EXPLORATION .......................................................................................................................... 10 5. GEOLOGY ..................................................................................................................................................... 12 5.1 REGIONAL GEOLOGY ................................................................................................................................ 12 5.2. LOCAL GEOLOGY ..................................................................................................................................... 14 5.2.1. Proterozoic ....................................................................................................................................... 15 5.2.2. Mesozoic (Rolling Downs Group) ................................................................................................... 15 5.2.2.1. Gilbert River Formation (JKg) ..................................................................................................................... 15 5.2.2.2. Wallumbilla Formation (Ranmoor Member) (Klu) ..................................................................................... 17 5.2.2.3. Toolebuc Formation (Klo) ............................................................................................................................ 17 5.2.2.4. Allaru Mudstone (Kla) .................................................................................................................................. 17 5.2.2.5. Floraville Formation (Klf) ............................................................................................................................ 17 5.2.3. Structure ................................................................................................................................................. 18 6. EXPLORATION UNDERTAKEN .......................................................................................................... 18 7. CONCLUSIONS ........................................................................................................................................ 22 8. RECOMMENDATION ............................................................................................................................. 22 9. REFERENCES ........................................................................................................................................... 23 APPENDIX 1 .......................................................................................................................................................... 24 QDEX REPORTS ................................................................................................................................................... 24 APPENDIX 2 .......................................................................................................................................................... 25 WATER BORES ...................................................................................................................................................... 25 APPENDIX 3 .......................................................................................................................................................... 26 MRX PTY LTD DRILL HOLE DATA ...................................................................................................................... 26 Page | 2 Investigator Resources Limited: Surrender and Final Report EPM 16511 “Brodies Lookout” Figures FIGURE 1. EPM 16511 SUB-BLOCKS .......................................................................................................................... 5 FIGURE 2. LOCATION AND ACCESS TO EPM 16511 .................................................................................................... 6 FIGURE 3. LOCAL TOPOGRAPHY, EPM 16511 ............................................................................................................ 7 FIGURE 4. ACCESSIBLE TRACKS, GROUND COVER AND TOPOGRAPHY ........................................................................ 8 FIGURE 5. REGIONAL TOTAL COUNT RADIOMETRIC IMAGE (WHITE = STRONGEST RESPONSE) .................................. 9 FIGURE 6. EPM 16511 IN RELATION TO MT ISA INLIER ........................................................................................... 12 FIGURE 7. CHRONOSTRATIGRAPHIC CHART FOR THE MT ISA SUCCESSION IN THE VICINITY OF EPM 16511 .......... 15 FIGURE 8. LOCAL GEOLOGY, EPM 16511 ................................................................................................................ 16 FIGURE 9. CHRONOSTRATIGRAPHY AND LEGEND FOR FIGURE 8 ABOVE .................................................................. 16 FIGURE 10. CHARACTER SAMPLING, TOOLEBUC FORMATION ................................................................................. 18 FIGURE 11. LOCATION OF CROSS-SECTIONS ............................................................................................................. 19 FIGURE 12. SECTION C-D ......................................................................................................................................... 20 FIGURE 13. SECTION E-F .......................................................................................................................................... 21 FIGURE 14. SECTION G-H ......................................................................................................................................... 21 FIGURE 15. SECTION J-K .......................................................................................................................................... 22 Tables TABLE 1. EPM 16511 SUB-BLOCKS ........................................................................................................................... 5 Page | 3 Investigator Resources Limited: Surrender and Final Report EPM 16511 “Brodies Lookout” 3. SUMMARY Many of the granitic suites in the Mt Isa Inlier are anomalously high in uranium. Groundwater flowing out from the Mt Isa Inlier may carry oxidised uranium as a complex uranyl carbonate ion. Specific permeable units within the Mesozoic strata of the Great Australian Basin (formerly known as the Great Artesian Basin) carry most of the groundwater flowing to the south and east of the Mt Isa Inlier. Precipitation of uranium could occur if the migrating groundwater encountered reducing conditions such as the carbonaceous horizons found in the Mesozoic Toolebuc Formation. EPM 16511 targeted Toolebuc Formation mapped southwest of Nardoo homestead, located 200km due north of the city of Mt Isa. Reconnaissance traversing of EPM 16511 was carried out in August 2009. The objective was to verify that outcropping Toolebuc Formation was present. A detailed compilation of water bore data and previous exploration was completed. In November 2010 Southern Uranium Limited (ASX Code SNU) changed the name of the Company to Investigator Resources Limited (ASX Code IVR), reflecting a broader multi-commodity approach to its exploration strategy. This name change was then formalised by ASIC and Investigator Resources commenced trading on the ASX on 26 November 2010. Due to budget constraints and the low priority of EPM 16511 Investigator Resources Limited lodged an Application for Surrender of EPM 16511 tenure on 21 March 2011 that was accepted by the Department of Employment, Economic Development and Innovation (DEEDI) on 19 July 2011. The surrender coincides with the end of Year 2 and includes all 100 sub-blocks for EPM16511. Page | 4 Investigator Resources Limited: Surrender and Final Report EPM 16511 “Brodies Lookout” 4. INTRODUCTION 4.1. Tenure EPM 16511 was surrendered by Investigator Resources Limited on 21 March 2011 coinciding with the end of Year 2. The area surrendered comprised all
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