Annual report for EL 26219, for the period 16 November 2007 to 15 November 2008

Abstract

This report describes the work programme undertaken during 2007/2008 by Eastbourne Exploration Pty Ltd on their EL 26219 tenement. Situated within the Pine Creek Shear Zone in the Northern Territory, the tenement forms part of the Woolgni-Edith River Project which comprises EL23568, EL23569, EL26219 and EL26220 collectively covering approximately 750 km2. The commodities sought are uranium and gold. Initial work consisted of historical exploration research and a site visit combined with a major review of exploration strategy and potential over the whole project area. The Company proposed an extensive exploration programme that encompassed the entire Woolgni-Edith River project. During the year the Company commenced systematic exploration of the shear zones within the Cullen Batholith focusing primarily on areas around historical uranium prospects. During this reporting period, a field visit to the area was carried out during December 2007 by the Company's Managing Director, Ian Scott, and consultant geologist, John Doepel, of Continental Resource Management Pty Ltd (CRM). Research of open file reports was completed as part of a major review of exploration strategy, potential and prioritisation of all Resource Star Limited's Northern Territory prospects. Data acquired included high resolution satellite images of the area. CSA Global who undertook the study identified the Woolgni-Edith River Project as the highest priority target. This study was followed up with field reconnaissance and a rock chip sampling programme. Efforts were focused on the Tennysons and YMCA uranium prospects located in EL 23568, immediately north of EL26219. A drilling programme was proposed and the Mine Management Plan was approved by the NT Government. Previous exploration within the combined Woolgni-Edith River Project region has demonstrated that the area is prospective for both uranium and gold mineralization. Uranium exploration within EL 23568 conducted during the early 1960's and 70's discovered several shear-hosted vein style deposits. Limited drilling demonstrated that the mineralization persists to at least 80m depth and field mapping confirms along strike continuity. Early workers commented that the shear systems that host the mineralisation are recognizable in aerial photography and that remote sensing data would be effective during the planning of exploration. In the northern and north-eastern area of EL 26219, outcrops of the Burrell Creek Formation represent the southern-most portion of the Pine Creek Geosyncline, which to the north, hosts numerous gold deposits. This area is worthy of systematic exploration for gold mineralization.