First annual report on EL 27568 for the reporting period 1 March 2010 to 2 March 2011

Abstract

The Ooratippra Project, held by Acacia Minerals Pty Limited, covers approximately 2,500 square kilometres straddling the Sandover Highway approximately 300 kilometres northeast of Alice Springs. Acacia Minerals, which holds the tenements, is a wholly owned subsidiary of NT Resources Limited, a public company listed on the Australian Stock Exchange. A submission was presented by NT Resources on behalf of its subsidiary Acacia Minerals to undertake a regional gravity survey under the Northern Territory Government's Bringing Forward Discovery collaborative program instigated by the Department of Resources - Minerals and Energy. NT Resources Limited recognises the similarities between the Ooratippra regional co-incident magnetic and gravity anomalies and the Olympic Dam style iron oxide copper gold (IOCG) deposit geophysical signature. A 2,485 station, 1000 metre spaced grid ground-based gravity survey was completed in September 2010 and final interpretive report compilation was completed in early 2011. The survey was designed to better constrain the regional gravity anomaly, and facilitate modeling depth to basement, enhance basin and basement structures, and outline the residual gravity anomaly for a targeted diamond core drilling programme planned to drill to basement below the Georgina Basin sediments for IOCG-style mineralisation. NT Resources committed to implement this gravity programme as an important part of its approved geophysical and drilling programmes on all its projects for 2010 and for future exploration programs. EL 27568 became an important parcel of exploration licence in the north-east part of the gravity survey to enable a comprehensive coverage of the region by the gravity survey.