Annual report on EL 22515, for the period ended 13 December 2005

Abstract

The Huckitta Project comprised 11 tenements for 12,241 square km and is situated between 200 and 300 km east of Alice Springs. Exploration is focused on discovery of Iron Oxide Copper Gold (IOCG) mineralisation associated with the Proterozoic basement rocks beneath sedimentary cover. This annual report documents the work completed on the Exploration Licence 22515. The project is a joint venture between BHP Billiton and Sumitomo Metal Mining Oceania Pty Ltd, with BHP Billiton managing the exploration work. Work on the project during 2004-2005 included ground gravity on Exploration Licences 22516, 23997 and 24000 following up targets generated by the FALCON(tm) airborne gravity survey flown in April 2004. Owing to the lower potential of EL 22515, work has been limited to geological interpretation and re-evaluation of prospectivity.