EL 9926 Tatoola Creek Relinquishment report on blocks dropped at the conclusion of year two of tenure for period ending 19 January 2005

Abstract

During the initial year of tenure, a review of historic exploration data, including surface sampling focussed on diamonds, was conducted by Gravity and a number of anomalous results were noted in and around EL 9926. The field program for Year 1 of the joint venture, which comprised flying Falcon airborne gravity gradiometer surveys was focussed on a number of areas, including the 'Abner Range' area located approximately 10km to the east of EL 9926. Due to exploration prioritisation on adjacent project areas and the onset of an early wet season the planned exploration on EL 9926 during the 2004 field season was postponed and subsequently unable to proceed. No on-ground work was completed in the tenement during year 2. This Report is in respect of the seven (7) blocks relinquished from EL 9926 at the conclusion of Year 2.