Annual report EL 23569 Woolgni Prospect

Abstract

This annual report details the work completed in the 2007/2008 reporting period by Retail Star Limited (RSL) - on the Woolgni Prospect (EL23569) in the Northern Territory. Orion Exploration Pty Ltd (Orion) was acquired by RSL in August 2007, resulting in a complete revision of exploration and targeting strategies on the Orion leases in the Northern Territory Retail Star Limited has six projects within the Northern Territory. All are situated within a few tens of kilometres of the main north-south Stuart Highway and are within 300km of Darwin. They are within, or marginal to, the Paleoproterozoic Pine Creek Geosyncline that is richly endowed with uranium, polymetallic, gold, and iron deposits. With the recent increases in world metal prices the area's potential to host both alluvial and hard rock resources needs to be evaluated. The work done to date has shown that significant mineralisation can be located and the completion of the Alice Springs to Darwin Railway line has removed a potential obstacle to future production.