Annual report for EL 26440 Laughlen for the period 14 April 2008 to 13 April 2009

Abstract

Maximus Resources Limited (MXR) lodged an application for EL 26440 on 17 September 2007. Due to revised exploration strategies MXR later in 2007 actively sought a joint venture partner to manage exploration on EL 26440, EL 23592, EL 9529, EL 22759 and MCS 38. On 23 January 2008 an option/farm-in agreement was executed with Minotaur Exploration Limited (MEL) over these tenements. EL 26440 was granted on 14 April 2008 for a six year period. Work in the first year of tenure was limited to data review and participation in the Northern Territory Government's regional gravity program throughout the Arunta Province. The gravity results were interpreted by MEL geophysicists.