EL 23459 Renner Springs Project Annual report for the period 4 March 2008 to 3 March 2009

Abstract

Work completed in the reporting period included: acquisition of high resolution (0.6m), RGB 'Quickbird' satellite imagery over the project area; an RC drilling program comprising 17 holes for a cumulative total of 1242 metres and 595 samples being assayed; an east-west oriented aerial geophysical survey, totalling approximately 532 line kilometres and collecting both aeromagnetic and radiometric data at a nominal flight height of 50 metres and line spacing of 150 metres, and; advanced reprocessing of 2007-2008 SkyTEM data using Vector Research?s 'Target TEM' algorithms. Significant mineralisation was intersected in three holes with the best intersection being five metres of manganese averaging 33.3 percent from 72 metres depth. The aeromagnetic and radiometric geophysical data sets were subject to advanced reprocessing at the anniversary date of the exploration licence.