Annual report on EL 26813 Newcastle Waters, to 26 April 2010

Abstract

The tenement was acquired to explore for phosphate mineralisation within Cambrian sediments along the edge of the Proterozoic block that runs north from Tennant Creek. Correlation of the sediments with those that host major phosphate deposits at other locations around the edge of the Georgina Basin or associated with basement highs such as at Wonarah indicate that there is substantial prospectivity for phosphate on tenement EL 26813. Proximity to transport infrastructure was also a significant consideration. No field work was undertaken during the reporting period. A planned reconnaissance mapping and soil/rock sampling program was postponed in February due to wet conditions. This program has been rescheduled for June 2010. Based on the results of reconnaissance sampling and mapping, a program of shallow RAB or RC drilling will be considered.