Annual exploration report EL 24966 Tennant Creek West for period ending 17 September 2008

Abstract

Exploration on EL 24966 for year 2 focused on the Blue bush analogy with Olympic dam. Geophysical processing by Frank Lindeman continued and a detailed ground gravity program was designed (to be completed early next period). Field reconnaissance was also undertaken as part of the Tennant Creek phosphate exploration program with 5 rock chip samples taken from calcrete, lateritic gravels and limestone. No significant results were returned. Work during Year 3 will include a detailed ground gravity geophysical survey followed by review and interpretation of results. Follow up drilling is planned based on the targets from this survey.