EL 22307 Mariner Annual report on exploration activities year one of tenure 6 August 2002 to 5 August 2003

Abstract

EL 22307 forms part of a farmin agreement between Rio Tinto Exploration Pty Ltd (Rio Tinto) and Diamond Mines Australia Pty Ltd (DMA) covering numerous Rio Tinto controlled tenements and applications in the Northern Territory. Under this agreement, DMA will conduct predominantly diamond exploration over the tenements and will utilise the newly-developed Falcon airborne gravity gradiometer system, which has been shown to be very effective in detecting kimberlite pipes. Gravity Capital Ltd is managing the farmin arrangement for Diamond Mines Australia and owns 40% of DMA. During the first year of tenure, a review of historic exploration data, including considerable surface sampling focused on diamonds, was conducted and numerous anomalous results were noted. 19 rock chip samples were also taken within the tenement. On this basis, a Falcon survey was planned and executed over parts of EL 22307 and neighbouring tenements. Results of the airborne survey are yet to be received. Expenditure on the tenement during the reporting period totaled $27936.