The Cullarin Exploration Licence, EL 6292, is located about 20km due west of Goulburn in south eastern New South Wales. In September 2006 a Joint Venture agreement was signed between GCR and Tri Origin Minerals Ltd (TRO). Since then TRO have earned a 62.5% interest in EL 6292 and are continuing to explore on the tenement. It is expected that over the coming year expenditure on the property will reach a level at which GCR will dilute ownership in lieu of contributions.
Over the past year Tri Origin completed a drilling program and ancillary works on the Joint Venture area as follows;
- Completed 673m diamond drill hole (CVTD001) at Cullarin Valley prospect.
- Completed DHEM to 196m on CVTD001 (PVC was collapsed at 196m).
- Completed Fixed Loop EM survey in area up dip and immediately north of CVTD001. Minor conductor located.
- Assaying of CVTD001. Significant assays are as follows;
The Cullarin Joint Venture area has demonstrated potential to host base and precious metal deposits. Exploration in this area will be aimed at scoping out the Cullarin Valley gold-base metal deposits with three RC-diamond tail holes followed by downhole EM.
Over the coming year exploration will continue with a review of all available data (especially geophysics) along with reconnaissance mapping and sampling of selected targets.
February 2009