EL 10025 Depot Creek 2 Victoria River Region, NT Annual Report on Exploration Activities Year two of tenure Period ending 20 May 2004

Abstract

EL 10025 forms part of a farmin agreement between Rio Tinto and Diamond Mines Australia Pty Ltd to conduct predominantly diamond exploration over the tenement, utilising Falcon(tm) airborne gravity gradiometer system to locate kimberlite pipes. During the first year of tenure, Rio Tinto conducted a thorough review of historic exploration data, including considerable surface sampling focussed on diamonds, and recommended divestment of the tenement. The timing of the divestment arrangement with DMA during year two of tenure precluded the instigation of field exploration activities during 2003, so Falcon has yet to be flown.