Prospectus for the North Arunta Project

Abstract

Little historic exploration for gold or base metals has been completed on the North Arunta tenements. However their prospectivity is considered excellent due to locations further east, north and northwest where gold mineralisation is extensive with many successful gold mines currently in production. The area selected by the Company is one of the most under-explored regions in the Northern Territory and the definition of targets for gold and uranium will be part of the initial exploration program. A proposed exploration budget should concentrate on more detailed geophysics (both airborne and ground) to delineate anomalous uranium areas within the tenements. This would be followed by initial RAB drilling to better define the areas and to demonstrate the presence of uranium mineralisation. Exploration for gold within the area should be pursued and some drilling should be allocated to this target. 2000 metres of RAB drilling are proposed for year 1 and 3000 metres for year 2.