Annual exploration report AN 413 year ending 4 May 2010

Abstract

During most of the reporting period, AN 413 remained under administration. Under the instructions of Several Administrators, tenement was reviewed, ranked and valuated in order to prepare assets for sale. Technical review of the project area shows that it mainly covers part of crescent-shaped valley which is magnetically recessive. It may be noted that several gold deposits/prospects occur in such magnetically recessive valleys (e.g Fountain Head, The Jar, Lady Josephine). Review undertaken shows that it has good potential in hosting gold, uranium and base metals mineralisation. Crocodile Gold Australia regards AN 413 highly due to its potential for several commodities of interest. An exploration program has been devised to pursue identified targets in the project area. For this purpose, the area will be mapped in detail and a program of soil/rock chip sampling will be carried out. If it warranted, then a campaign of RC-RAB drilling will be undertaken.