Combined annual technical report for EL 9529 and EL 22759, for the year ended 1 April 2007

Abstract

Up to 2006 Tanami Exploration NL included EL 9529, Rankin and EL 22759, Gecko in its Winnecke project which comprised a total of 6 exploration licences centred about 65 km northeast of Alice Springs. In November 2006 Maximus Resources Limited (MXR) entered into a joint venture agreement with Tanami Exploration NL to explore for base and precious metals over EL 9529 and EL 22759. MXR is the operator and manager of the project. To date MXR has undertaken geological reconnaissance on both a regional and prospect scale. The primary targets are stratabound Cu-Pb-Zn mineralisation and fault-related Cu-Au mineralisation. In November 2006 MXR contracted GPX Airborne Pty Ltd to undertake a combined HOISTEM electromagnetic and magnetic survey over parts of EL 9529 and EL 22759. The survey totalling about 183 line km was flown in late November 2006.