Rankin Project EL 9529 and EL 22759 Combined annual technical report for the year ended 1 April 2009

Abstract

Up to 2006 Tanami Exploration NL included EL 9529, Rankin, and EL 22759, Gecko, in its Winnecke project which comprised a total of 6 exploration licences centred about 65 km northeast of Alice Springs. In November 2006 Maximus Resources Limited (Maximus) entered into a joint venture agreement with Tanami Exploration NL (Tanami) to explore for base and precious metals over EL 9529 and EL 22759. Maximus was the operator and manager of the project until December 2007. On 23 January 2008 Maximus completed an option/farm-in agreement Minotaur Exploration Limited (Minotaur). To date Minotaur as operator of EL 9529 and EL 22759 has undertaken ground electromagnetic (EM) surveys over the Rankin prospect on EL 9529 (Newton, 2008). A gravity survey was completed in June 2008 over EL 9529 and EL 22759, in conjunction with the Northern Territory Government's regional gravity program throughout the Arunta Province. The gravity results were interpreted by Minotaur geophysicists.