Seventh annual report on EL 24917 Ross River, year ending 10 July 2013

Abstract

The Cleary Dam Cu-Ni-PGE prospect was tested with two angled RC holes and four more angled RC holes were drilled at Tommys Gap Cu prospect. No economic mineralisation was intersected. The Mulga Dam 1 uranium target which straddles the boundary of EL 24917 and EL 28334 was identified on radiometrics acquired for Rum Jungle Resources. This target has been drill tested with three RC holes on each EL. No significant mineralisation was intersected on EL 24917 or EL 28334 and no further work is warranted at Mulga Dam 1. A remote sensing study and reinterpretation of geophysical data failed to identify any new leads. No new exploration is planned on EL 24917 but rehabilitation will have to be undertaken in Year 8.