Mutiny found that the Bounty Zone project consists of five strong minalised zones situated in the northern end of the TGB, abutting Silver Lake Resources Ltd's Tuckabianna tenements.  The TGB is host to over 500,000oz Au in undeveloped resources and has a historic production of over 500,000oz Au.

The Company conducted an eleven-hole drill program (totaling 1,546m) designed to test both the strike and dip extensions of the five identified mineralisation zones within the Bounty Zone.  This drilling concentrated on the mineralisation within the mafic-BIF layered sequence, which is the regional mineralisation host throughout the TGB.

The drilling has lead to an increased understanding of the mineralisation controls throughout the tenement area which in turn lead to the development of conceptual targeting in previously unexplored areas of the tenement.

During December 2009 Mutiny undertook a soil program utilizing the MMI assaying technique.  The purpose of this testing was to identify additional mineralisation and drill targets within the unexplored areas of the Bounty Zone. The MMI soil program consisted of 200m line spacing and 20m sample stations, totaling 190 samples.  It specifically tested three known mineralisation hosts.  Targets included previously untested extensions of the granitic porphyries defined by the Bounty Zone phase one drill program and the 4km of interpreted Banded Iron Formations ("BIF") that run north-south along the eastern half of the tenement along with a series of palaeochannels which are known for their near surface high grade gold expressions.

MMI response ratios in the southern portion averaged over four (4) times the background results calculated from over 70 samples taken and assayed.  The highest response ratio was over 17 times the background results in this area and also defined a strike length of over 500m of a greater than 7.5 response ratio anomaly called the Bligh prospect.  The sampling in the south targeted interpreted BIF horizons defined from Total Magnetic Intensity interpretation.  

The strike length of the interpreted BIF units extends to the south.  The BIF units in the south appear to be an important factor in the newly discovered Genisis and Exodus prospects defined by Silver Lake Resources Ltd only 5km to the south of the White Well tenement.  Grades reported from both these prospects by Silver Lake Resources Ltd included 9m @ 1.8g/t from Genesis, and 6m @ 1.7 g/t from Exodus.  Those grades are comparable to the Bounty Zone's 7m @ 1.81 g/t.  Mutiny's aim is to replicate such grades with further testing of the anomalies.

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 Bounty Zone drilling