Johnnies Reward Project EL 23592 Annual technical report for the period 12 February 2006 to 11 February 2007

Abstract

Flinders Diamonds Limited (FDL) initially applied for EL 23592 in the Strangways Range area to investigate discrete regional dipolar magnetic anomalies which might be indicative of kimberlitic or lamproitic diamondiferous intrusive pipes. The Teck Cominco-BHP Billiton Alliance entered into a joint venture with FDL to evaluate the base metal potential of EL 23592 and other project tenements. The exploration target was polymetallic massive sulphide deposits. With the exception of known base metal occurrences geochemical sampling by the Alliance in 2002 did not define any base metal anomalies that warranted follow-up. In 2005 FDL sold the non-diamond rights in EL 23592 to Maximus Resources Limited (MXR). MXR was listed on the ASX on 26 October 2005. During 2006 MXR has undertaken geological reconnaissance on both a regional and prospect scale. In November 2006 MXR contracted GPX Airborne Pty Ltd to undertake a combined HOISTEM electromagnetic and magnetic survey over the Johnnies Reward prospect area. The survey totalling about 85 line km was flown in late November 2006.