Combined annual report for EL 23070, EL 23071, EL 23915, EL 23917, EL 24019, EL 24020, EL 24021, EL 24684 and ELA 24022 Bynoe Project, for the period 21 July 2007 to 20 July 2008

Abstract

The Bynoe Project comprises 8 granted and 1 application exploration licences located on the south side of Bynoe Harbour, approximately 60km southwest of Darwin in the Northern Territory. This third combined annual report describes activities conducted for the period 21st July 2007 to 20th July 2008. Exploration activities during the period have involved a Phase 1 RAB and Aircore Drilling program. This was targeted on the earlier detailed airborne radiometric and magnetic survey and the results of previous exploration. A total of 160 holes were drilled for 2484 metres. The inability of the drill rig to penetrate bedrock on many cases was disappointing. However, results from those that penetrated bedrock demonstrated that suitable host lithologies exist and that they contained anomalous uranium and other metal values in several holes. The most anomalous holes were in Target 2. Exploration for the next report period will include a Phase 2 RAB drilling program. It is also planned to test the best targets developed including the historic uranium mineralisation at Target 5 by deep RC and possibly diamond core drilling