Partial relinquishment report for EL 23395, for the year ended 13 November 2008

Abstract

The Arunta Project is located approximately 250km NNW of Alice Springs in the Northern Territory. The North Arunta Province is dominated by a series of sulphidic Palaeoproterozoic sedimentary sequences intruded by granite plutons and mafic sills. Quaternary and Tertiary cover conceals large areas of bedrock in the area however the region has seen exploration for a variety of commodities including gold, base metals, iron ore, uranium and diamonds. Work by Proto Resources & Investments Ltd on EL 23395 has highlighted the prospectivity of 10 priority GEOTEM targets within the licence area. As such, it is recommended that Proto execute a 50% reduction relinquishing those sub-blocks outside of the area of interest.