Third annual report for EL 1638 Port Keats 1, EL 1639 Port Keats 2, EL 1640 Keats, EL 1641 Port Keats, EL 1923 Keats 2, EL 3403 Barwolla, EL 3404 Fitzmaurice, EL 3406 Keyling, EL 6516 Tom Turners Creek, EL 6517 Cui-eci Creek, EL 6551 Greenwood and EL 22218 Fitzmaurice 4, Yambarra Project, for the period ending 22 September 2005

Abstract

Exploration Licence (EL) 1638 Port Keats 1, EL 1639 Port Keats 2, EL 1640 Keats, EL 1641 Port Keats, EL 1923 Keats 2, EL 3403 Barwolla, EL 3404 Fitzmaurice, EL 3406 Keyling, EL 6516 Tom Turners Creek, EL 6517 Cui-eci Creek, EL 6551 Greenwood and EL 22218 Fitzmaurice 4 were applied for by Ashton Mining Limited and Ashton Operations Australia Limited ('Ashton') in the late 1970's and early 1980's. The tenements are centred approximately 200 km south west of Darwin on the Daly River / Port Keats Aboriginal Land Trust and consequently are processed under the Aboriginal Land Rights Act 1975 (ALRA). The project area covers parts of the Palaeoproterozoic Pine Creek Orogen, the Mesoproterozoic Victoria - Birrinduddu Basin and the Palaeozoic Bonaparte Basin. No on-ground exploration was completed during the current reporting period. Exploration activities focused on reviewing existing indicator mineral chemistry and identification of bauxite target areas in the coastal areas of EL 1923 and EL 1640. Partial relinquishments were completed on EL 1923 and EL 1640. Exploration in the upcoming twelve months will focus on testing the bauxite potential of the coastal tenements and continuing efforts to identify specific diamond targets.