Combined annual report for EL 23070, EL 23071, EL 23915, EL 23917, EL 24019, EL 24020 and EL 24021 Bynoe Project, for the period 21 July 2004 to 20 July 2005

Abstract

This combined annual report details all exploration work undertaken on the Bynoe Project Exploration Licences 23070, 23071, 23915, 23917, 24019, 24020, and EL 24021 during the reporting period 21st July 2004 to 20th July 2005. The licences are located on the south side of Bynoe Harbour, approximately 60km southwest of Darwin in the Northern Territory. Access to the project area is via the sealed Stuart Highway and Bynoe road, as well as the Mount Finiss road. Various unsealed dirt roads and tracks provide access to the licence areas. These latter roads become impassable during the wet season. The tenements are situated on the Fog Bay (SD52-03), Darwin (SD52-04), and Pine Creek (SD52- 08) 1:250,000 map sheets, and the Fog Bay (4972), Reynolds River (5071), and Bynoe (5072) 1:100,000 map sheets. The terrain in the northern area is generally flat and is cut by creeks which lead to mangrove swamp areas and ultimately the coastline. Vegetation cover in both the northern and southern areas is moderate to thick with 15m tall trees covering the area that is best described as open Eucalypt forest. The principal exploration target for the area is magmatic intrusive related nickel-copper-platinum group mineralisation of the Voisey's Bay (Canada), Noril'sk (Russia) and Jinchuan (China) style. The target generation philosophy is based on recognition of aeromagnetic and gravity anomalies associated with mafic and ultramafic intrusive bodies and major structures along or adjacent to Pre-cambrian cratonic margins, utilizing published continental scale geological and geophysical data sets. In many cases these prospective intrusive bodies have not been previously recognized or have been subjected to only limited exploration. Historically, uranium has been a major exploration target in the area and will continue to be explored for in conjunction with the nickel target.