Third annual report for EL 9722'Packsaddle ', for period ending 14 April 2006

Abstract

The Packsaddle project is located approximately 430 kilometres southeast of Darwin on the Moroak 1:100,000 and Urapunga 1:250,000 map sheets. There are two known kimberlite dykes in the area (Packsaddle and Blackjack), which is sited approximately 186 kilometres ESE of the township of Katherine. These kimberlites were discovered by De Beers during a sampling and drilling program over this area between 1984 and 1989. The Packsaddle Project consists of Exploration Licence (EL9722) covering an area of 47.58 square kilometres over the Packsaddle 01 Kimberlite dyke. This EL was granted on 25 April 2003 with Tawana Resources NL becoming manager on the 15 April 2004. During the current reporting period no field work was conducted. Final results from the September 2004 heavy mineral sampling program near the Packsaddle Kimberlite were received. All four samples were confirmed as negative substantiating the observation that the kimberlite indicator trails are short and subdued within the current creeks draining the kimberlite area.