EL 23070 Bynoe South Annual report for the period 16 January 2004 to 15 January 2005

Abstract

EL 23070 (Bynoe South) is located approximately 10km south of Bynoe Harbour and 60 km southwest of Darwin in the Northern Territory. The licence was initially granted to Barrett Exploration Pty Ltd on the 16th January 2003 and then transferred to Anglo American Exploration (Australia) Pty Ltd (AAEA). AAEA subsequently sold the licence to Continental Nickel N.L. (Continental; a fully owned subsidiary of Goldstream Mining N.L.). The licence is registered to and managed by Continental. This second year annual report describes exploration activities conducted between 16th January 2004 and 15th January 2005. Exploration, during the report period comprised a 2 hole percussion drilling (RC) programme for a total of 239m, and re-assessment of previous exploration conducted by AAEA to define additional exploration targets for drilling.