Annual and final report for EL 22495 and EL 22498 Daly River Project for the period 5 September 2009 to 4 September 2010

Abstract

Failure to advance negotiations and the refusal to consent grant of EL 22066 in particular has meant that the extent of the intended airborne geophysical survey was minimized and to date aeromagnetic surveying has been carried out only over EL 22495. The airborne magnetic survey was completed over a large part of EL 22495 in January 2008 and ground inspection of an anomaly labelled DR500 was carried out in April 2008. A drilling program was formulated to test the magnetic anomaly. An application for an Authority Certificate was submitted to and received by the Aboriginal Areas Protection Authority (AAPA) on 22 May 2008 and an Authority Certificate for Mineral Exploration Drilling in selected Areas within EL 22495 was issued on 18 March 2009. Drilling was carried out in October 2009. No minerals of economic significance were intersected. No work has been carried out on EL 22498. Due to the lack of encouragement from the drilling program in EL 22495, a decision was taken to allow EL 22495 and EL 22498 to expire. However, in spite of the refusal of consent to grant, it is recommended that Troy persevere with the project by retaining the applications for EL 22066 and EL 10081. Troy should also try to encourage the Aboriginal landholders to reopen negotiations toward the grant of EL 22066 and EL 10081.