Annual report for EL 26710 Booda Creek for the period ending 23 October 2009

Abstract

The Booda Creek Project (EL26710) is located in the Barkly region of the eastern Northern Territory, approximately 80 km north-northeast of Tennant Creek. The tenement is a joint venture between Geotech International PL and Minemakers Australia Pty Ltd and provides participating interests for Minemakers (80%) and Geotech (20%), with Geotech being free-carried from expenditure contributions until a Decision to Mine. Minemakers has entered into the joint venture due to the tenement's location on the margin of the Georgina Basin, a basin prospective for phosphate, uranium, base and precious metals. Minemakers owns the Wonarah phosphate deposit located approximately 250 km to the southeast of the project area and phosphate is being sought in the same stratigraphic horizon and geological environment to that at Wonarah and some of Phosphate Australia's phosphate deposits located approximately 245 km to the east-southeast of the project area. There is no previous company phosphate exploration documented on open file from the NTGS, however eight waterbores have been drilled on the tenement, with five recording a strong response for phosphate. Work to date has included interpretation of open file geophysics available from the NTGS and after further geophysical interpretation, Native Title clearance will be sought for ground reconnaissance and surface sampling followed by drill testing where warranted.