Annual report on SEL 24768 Toko for period 9 August 2006 to 8 August 2007

Abstract

This report details exploration work carried out by Elkedra Diamonds NL and Uramet Minerals Ltd within the Toko tenement (SEL 24768) in the Northern Territory for the twelve months until 8th August 2007. Uramet acquired SEL 24768 from Elkedra in June 2007. A review of the base metals and uranium potential of the area and adjacent tenements was completed in August 2006. The review included a re-evaluation of available open file geophysical data. Final results from test-work on two diamond mini-bulk samples collected in 2005 are reported. The test-work has shown that while a number of microdiamonds are present, no macrodiamonds or large microdiamonds (+0.3 mm) were recovered and therefore the chances of a commercial source of diamonds being present in the area can be regarded as low.