Combined annual and final report for period ending 1 September 2010

Abstract

During the second year of the Licence, the work was restricted to a study of open files available at the Northern Territories Department of Mines & Energy. The open file study demonstrated that there was some significant potential for uranium copper, tungsten, tin and tantalum in the area. During the reporting period Kastellco Geological Consultancy Ltd (KGC) terminated their contract with Latrobe Magnesium Ltd. Al Maynard and Associates have been requested to continue work for Latrobe Magnesium Ltd, albeit on a caretaker basis to review completed work and recommend future work until a suitable replacement can be found. Various U-Ta-W exploration targets have been identified by Asis International Pty Ltd. The first order radiometric targets presented in Table 2 and illustrated respectively in Figure 3 have been subjected to reconnaissance field inspections to ascertain order of priority for follow up exploration planned for the third year's exploration program. These radiometric targets, regarded to represent palaeochannel 'Yeelirrie' type deposits need to be geochemically soil sampled with contemporaneous ground magnetic surveys. The title was surrendered.