Annual report on EL 10321 January 2006 to December 2006

Abstract

The planned bulk sample testing for this year was postponed due to the closure of the processing facility at the Goodall Mine site. A new geological survey was performed over the southern prospect of the licence now named Cook. Surface dish sampling provided an outline of the prospect where shallow occurring high grade gold values were observed. Further near surface examination of the adjoining narrow scoradite view provided the most promising shallow occurring high gold content of all tests. The future of Tenement depends upon the jointly owned adjoining tenement results together with the results of the current drilling programme. It is strongly noted that the retention of the original licence area be retained as the letter of renewal stated.