cr159021

This Annual Report for EPM28303 covers the work undertaken on the tenement during the tenure of the tenement. EPM28303 was lodged over a portion of the Featherbed Caldera containing the published distribution of the Coombella Rhyolite which was considered prospective for lithium and REE mineralisation associated with altered felsic volcanics using the Thacker Pass deposit in Nevada as a genetic model. No previous sampling for these elements have been previously undertaken within the area covered by the tenement. During the tenure the following was undertaken by the company, detailed literature research on all historical tenements surrounding and including the current tenement area, preparation of drainage maps and other geomatic maps considered useful from available information, reprocessing regional aeromagnetic data, onsite meetings with relevant landholders, collection of 21 minus 80 mesh drainage samples within volcanic terrain and analysis of same using a 49 element scan at ALS. Six drainages show weakly anomalous results. Two drainages display anomalous Li within the target Coombella Rhyolite Unit. One drainage shows anomalous REE and three additional drainages show weakly anomalous Nb, Ta, Mo. Assays were considered not to be at levels worthy of further exploration.