Anchor Resources

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Explores for Antimony - Copper - Gold - Lead - Molybdenum - Tin - Tungsten - Uranium - Zinc
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Last updated on : 10/14/2010

21/09/2016 - Annual Report to shareholders - PDF


A.C.N. 122 751 419



Page No.

Chairman's Letter 2

Review of Operations 3

Directors' Report 13

Consolidated Statement of Comprehensive Income 19

Consolidated Statement of Financial Position 20

Consolidated Statement of Changes in Equity 21

Consolidated Statement of Cash Flow 22

Notes to the Financial Statements 23

Directors' Declaration 46

Auditors' Independence Declaration 47

Independent Audit Report 48

Shareholder Information 50

Schedule of Tenements 52

Corporate Governance Statement 53

Corporate Directory 57


21st September 2016


Dear Fellow Shareholders,

On behalf of your Board of Directors, I am pleased to report on your Company's activities during the past year.

Our activities are exploration focussed in eastern Australia. Our work in the New England District continued at the Blicks project and a further geochemical anomaly (copper-molybdenum), Liberty, has been identified close to the Tuting porphyry molybdenum-tungsten geochemical anomaly and also in close proximity to the Tyringham prospect, a large intrusion-related gold system already identified by Anchor.

A new exploration licence was granted in late 2015 at the Gemini project which lies within the southern portion of the Cobar Basin in central New South Wales. This is a world class province that host numerous copper, lead, zinc and gold mines and field work has started in recent weeks.

My thanks go to all of our staff and consultants for their high degree of professionalism and in particular ensuring that our work remained free of safety and environmental incidents throughout the year.

Yours sincerely,

Jianguang Wang

Jianguang Wang



2015 - 2016 Operations Report


Anchor has exploration projects located in the Lachlan Orogen and Southern New England Orogen in New South Wales and the Hodgkinson Province in North Queensland where it is exploring for copper, lead, zinc, molybdenum, tungsten, gold and antimony (Figure 1).

Figure 1: Anchor's Australian projects

Anchor can report a year in which no environmental or occupational health and safety incidents occurred. This outcome continues the efforts of all members in our exploration team.

Anchor's Blicks, Birdwood and Bielsdown projects are located in the Southern New England Orogen, a geologically significant area not subject to sustained modern and innovative exploration. In the Blicks project, exploration by Anchor has identified intrusion-related gold mineralisation at Tyringham, and discovered three new extensive areas of granite-related base metal mineralisation known as Tuting (molybdenum-tungsten), Liberty (copper-molybdenum) and Navin (arsenic ±tin). Several other intrusive complexes with reports of spatially associated copper, molybdenum and gold mineralisation, including Sheep Station Creek Complex and Ellis Intrusive Complex, remain to be evaluated. Anchor's exploration team continues to build a strong understanding of the area's geology and develop pragmatic exploration models for the discovery of large mineralised systems.

During the year Anchor expanded activities into the Cobar Basin in the Lachlan Orogen which resulted in the granting of an exploration licence for the Gemini project. The area is considered prospective for Cobar-type deposits.

In North Queensland at the Aspiring project a number of structurally controlled polymetallic and gold bearing vein systems have been identified and a new exploration tenement, Walsh River, contiguous with Aspiring, was granted.

Anchor continues to review opportunities to participate in other advanced Australian projects and during the year considered projects offering near term production potential. None were identified as suitable for Anchor.

Review of Projects

Blicks Project - gold, molybdenum, tungsten, copper (EL 6465 & EL 8100, NSW; Anchor 100%)

The Blicks project is located in the Southern New England Orogen in northeast NSW, approximately 90 km from the major regional centre of Armidale.

The Blicks project encompasses an area of hitherto largely under explored ground and work by Anchor to date continues to provide encouragement for a newly recognized mineralised province within the Southern New England Orogen with potential to host significant mineral deposits for a variety of commodities including copper, molybdenum, tungsten and gold.

Anchor has identified a major northeast trending transverse structural zone ('Tyringham Corridor') where five mineralised centres have been defined (Figure 2). The Tyringham Corridor is open to the south-west and north-east.

These mineralised centres are not yet comprehensively explored and include:

  • Tyringham West gold (-tungsten) prospect;

  • Tyringham East gold (-tungsten) prospect;

  • Tuting molybdenum-tungsten±copper prospect;

  • Liberty copper-molybdenum prospect; and

  • Navin Intrusive Complex with anomalous arsenic-bismuth-tin±copper. Work during the current year focussed on the Liberty prospect.

Figure 2: Tyringham Corridor illustrating key mineralised centres and four distinct multi-element associations attributed to three magmatic events of different ages