Annual report for EL 24438 Stokes Yard for the period 5 September 2009 to 4 September 2010

Abstract

EL 24438 Stokes Yard is part of Northern Mining Limited's Central Australian projects. The tenement contains the Stokes Yard Zn-Cu-Pb prospect, which is hosted by the 1690-1610 Ma Madderns Yard Complex of the Warumpi Province. In the second year of tenure, an 80 % interest in EL 24438 was purchased by Northern Mining Limited, with Imperial Granite and Mining Pty Ltd retaining 20 %. In the fifth year of tenure the entire tenement was covered by an airborne geophysical survey. The airborne survey was completed by UTS Aeroquest and included magnetics, radiometrics and digital terrain. Only preliminary processing has been completed on the data. A covenant of $93,000 was proposed for the fifth year of tenure on EL 24438, with an expectation of completing ground geophysical surveys and some reverse circulation/diamond drilling. However, much of this work was not completed due to the continuous and unseasonable wet weather in 2010.