Fourth and final annual report for EL 24912 Churchill's Head, 3 May 2009 to 2 May 2010

Abstract

EL 24912 was granted to Imperial Granite and Minerals Pty Ltd on the third of May 2006. On the 9 April 2008, application was lodged for the transfer of the Licence to Acacia Minerals Pty Limited (Acacia), a wholly owned subsidiary of public company, Adelaide River Resources Limited, ACN 127 411 796. The parent Company's name was changed to NT Resources Limited and later listed on the Australian Stock Exchange (ASX) in February 2010, raising approximately $3,000,000 by public subscription. During this year however, principal efforts have been preparing the Company for listing on the Australian Stock Exchange (ASX) and exploring the Frazers-Acacia and Ooratippra Prospects. Only minimal exploration was carried out on EL 24912. This Fourth and Final Report summarises the exploration work carried out on the Licence during the fourth year of tenure and from the date of grant to the 3 May 2009 to 2nd May 2010. Work done included; Research, Rock chip sampling, Geochemical analysis, Satellite imagery interpretation, Geophysical Interpretation, Review of geochemical analysis and key indicator mineral and diamond determinations and Assessment of results to date. Results indicate that the area has low potential for diamonds. Although geophysical interpretation and the minor anomalous copper from surface sampling carried out to date justify further exploration and the testing of magnetic and radiometric anomalies, it was decided by the Company that its Acacia/Frazers and Ooratippra Projects were more prospective and it was decided to relinquish EL 24912. Consequently the Licence was surrendered on the 2nd of June 2010.