Annual exploration report year 4 exploration licence 9893 10th September 2005 to 9th September 2006

Abstract

This report details exploration activity for diamond bearing kimberlite intrusives carried out by North Australian Diamonds Limited (NADL) over EL 9893 for the period 10 September 2005 to 9 September 2006. NADL acquired 100% of exploration lease EL 9893 in November 2004 from Rio Tinto. The tenement is held under Bulgurri Diamonds, which is a 100% wholly owned subsidiary company of NADL. Fieldwork in the previous reporting period included the collection of four stream gravel samples and twelve loam samples as part of follow-up work to existing indicator mineral anomalies. These samples were analysed and returned negative results. Field work during the current reporting period included ground reconnaissance and geological mapping of previously identified indicator anomalies, and the collection of fifteen stream gravel and thirty loam samples. These samples are currently awaiting transport to Perth for laboratory analysis.