Annual report - Year 2, EL 24500, 29 August 2006 to 28 August 2007

Abstract

CRA Exploration and Ashton Mining Limited has undertaken exploration for diamonds throughout the area since the early 1980's. Exploration has included airborne and ground geophysical surveys, stream gravel and loam sampling, and drilling of identified anomalies. A review of available historic data identified six indicator mineral anomalies that have not been resolved. NADL collected seven stream gravel samples in 2005-2006 however, due to a shift in company focus these samples have not yet been processed. Work undertaken during the reporting period included the evaluation of the licence for potential to host base metals and uranium mineralization. Proposed work program for the next reporting period include stream sampling, ground geophysics, structural geological mapping and drilling.