Annual and final report EL 26974, 23 July 2009 to 13 September 2012

Abstract

Work conducted in the third year consisted of desk top studies and the submission of a Mine Management Plan for the Barrow Creek Project focussing initially on EL 26915. The exploration work done to date has not successfully explored EL 26974 for the presence of phosphate mineralisation. The only effective way to examine the underlying strata is by drilling, firstly using either Aircore (recommended) or Reverse Circulation methods. Fertoz does not have the funds to carry out drilling in the next twelve months. It has given priority in the Barrow Creek project to EL 26915 which it has entered into a joint venture with NuPower Resources. Consequently it has decided to relinquish EL 26794 and carry out no further exploration.