6th Annual report on EL 22068, period beginning 1 September 2005 and ending 30 August 2006

Abstract

Renison has been developing a regional exploration strategy in the NT, targeting dislocations within regional structures that intersect known stratigraphical and structural features that host economic gold mineralisation, within the northern Pine Creek Geosyncline. EL 22068 'Steve's Hill' forms part of a regional package of tenements that have a north-west trend, which covers what the Company has called the 'Noonamah-Corroboree Trend'. The licence straddles a conspicuous zone of dislocation evident in processed aeromagnetic imagery. Several recently discovered gold prospects are aligned along this zone of dislocation over 2.5 kilometres strike extent within the Steve's Hill tenement. The source of the significant surface mineralisation found by the local prospectors in the form of nuggets and specimen pieces has not as yet been located by any significant hard rock intercepts. Several low order anomalies have been found, but none significant enough to explain the amount found by prospectors. It is hoped through detailed geological mapping and further reprocessing of this data which is currently ongoing the source of this mineralisation will be located and define a resource which can be used as supplemental feed for the Tom's Gully operation which is currently undergoing final commissioning. Due to the commitments of the final construction and commissioning phase of the Tom's Gully operation. Drilling was not completed during this year of tenure.