Annual report on EL 26915

Abstract

This annual report describes the work completed in the 2009/2010 reporting period by FSL Limited (FSL) on EL 26915 in the Northern Territory. FSL is focused on exploring for and developing phosphate resources in the Northern Territory. To this end FSL has acquired 27 exploration licences in prospective areas. The licences in general lie in the Georgina and Wiso Basins. EL 26915 lies in the southern Georgina Basin approximately 220 kilometres south of Tennant Creek. Very little exploration work of any sort has been done on the area of ELA 26915 and the work completed has focused on the Proterozoic aged areas. Located approximately 90km to the east of EL 26915 is water bore RN123015 which intersected between 2% and 17 percent P2O5 between 30 and 72m depth.