EL 26033 Tennant Creek Project Annual Report 13 February 2010 to 12 February 2011

Abstract

Exploration for the year ending 12 February 2011 included continuation of negotiations for an Exploration Agreement over the tenement, flying a detailed helicopter-borne aeromagnetic survey over the tenement and report writing. No on-ground field work was completed. It was considered prudent to suspend work on the ground until such time as an agreement is finalised. Future work will assess the potential for deeper targets within the tenement area as the near surface assessment is considered low potential. Work will include modelling of the new helicopter magnetic data and if warranted further gravity data will be considered for acquisition. A minimum budget of $6,000 is recommended subject to positive assessment of existing magnetic data.