First annual report for EL 27628 Epenarra for the period 8 April 2010 to 7 April 2011

Abstract

Oneva Exploration Pty Ltd (Oneva). was granted EL 27628 on 8 April 2010 for 6 years. A second back-to-back smaller area: EL 27751 was later granted in July 2010. Our objective is to combine both licences and sample prospective contact formations across the overall northern, central and southern areas, chiefly in search of gold and tungsten. There is also a possibility of lithium, vanadium and fluorspar discoveries. Oneva has placed considerable effort into compiling and interpreting feature areas on satellite imagery across the combined licences. We reviewed 36 off historical exploration reports. Oneva marked 6 main feature areas at Epenarra that have potential for gold and base metal mineralisation. Mapping produced 221 overall exploration target plots of which 60 are selected on EL 27628 for first-pass orientation combined soil and rockchip samples. Heavy yearly rainfall, the second highest ever-recorded readings in central Australia including the Barkly Region delayed scheduled fieldwork. Persistent rain caused the ground to remain wet and damp through 2010, rain continuing until early April 2011 and Oneva's fieldwork was put on hold for the reporting period. A mining company having tenements in the Epenarra - Kurundi area is currently negotiating to secure interest in Oneva's EL 27628 and EL 27751 prospects. As at mid April 2011, the weather has picked up and Oneva is very keen to get fieldwork underway in June-July if remaining dry.