Annual report of EL 25517, 9 March 2008 to 8 March 2009

Abstract

Coherent exploration models focusing on several commodities have been established and include targets for gold, uranium and tin. A comprehensive information memorandum has been compiled and was used to attract a partner in March 2008 who hopes to list on the ASX in the upcoming months. Due to prevailing market conditions the listing process has been delayed until conditions become more favourable. Part of the listing process has included several fieldtrips into the area to assess the mineral potential of the tenement and makes up the bulk of the field component. Further processing of existing data has been used to assist in more detailed target selection. The tenement forms part of a package currently under an option agreement with a view to list on the ASX. A company geologist visited site as part of this process. An independent geologists report has prepared as part of this process and included reconnaissance site visits. Ongoing database work has included integration of open file deposit production information into the GIS as well as further reviews of available geochemical and aeromagnetic data. Previous regional airborne radiometric data has been combined with SRTM to obtain relief information. Landsat data was also subjected to the same process with mixed results. Handheld XRF spectrometry was utilized to follow-up and verify airborne radiometric anomalism. Limited XRF base metal spectrometry was conducted during the independent geologist visits. No major geochemical programs were carried out during the period however reinterpretation of open file geochemical datasets continued to be carried out including the presence of major radiometric anomalism. No survey activities were carried out during the period.