Pinnacles
Anglo Australian Resources NL 100% ( Alloy Resources Limited earning 60%)
This exploration licence located 20km east of Cue consists of small area of 4 sub-blocks immediately east of the Pinnacles workings.
The project located predominantly under cover is interpreted to contain the fault bounded mafic unit which hosts most of the mineralisation at Tuckabianna. A magnetic anomaly within this unit could reflect magnetite alteration or a BIF unit.
AAR has reached a joint venture agreement with private company Alloy Resources Limited who is investigating redevelopment of the nearby Comet Mine. Alloy can earn 60% of the tenement by exploration expenditure of $150,000 over a three year period.
Joint venture partner Alloy Resources has reported that it had delineated an EM anomaly, thru 4 lines of moving loop EM and one seismic reflection transect. Two RC holes, which tested this anomaly in the December quarter 2006, intersected barren massive pyrite and highly altered basalt.