Fourth annual report for EL 1638 'Port Keats', EL 1639 'Port Keats 2', EL 1640 'Keats', EL 1641 'Port Keats', EL 1923 'Keats 2', EL 1924 'Cape Ford', EL 3403 'Barwolla', EL 3404 'Fitzmaurice', EL 3405 'Anson', EL 3406 'Keyling', EL 6516 'Tom Turners Creek', EL 6517 'Cui-eci Creek', EL 6551 'Greenwood' and EL 22218 'Fitzmaurice 4' for the period ending 22 September 2006

Abstract

This report describes exploration by Rio Tinto Exploration Pty Limited (RTE) within the Yambarra Project area during the period 23 September 2005 to 22 September 2006. The Yambarra Project is comprised of fourteen contiguous exploration licences EL 1638 Port Keats 1, EL 1639 Port Keats 2, EL 1640 Keats, EL 1641 Port Keats, EL 1923 Keats 2, EL 1924 Cape Ford, EL 3403 Barwolla, EL 3404 Fitzmaurice, EL 3405 Anson, EL 3406 Keyling, EL 6516 Tom Turners Creek, EL 6517 Cui-eci Creek, EL 6551 Greenwood and EL 22218 Fitzmaurice 4. The tenements are owned by Ashton Mining Limited and Ashton Operations Australia Limited ('Ashton'), subsidiaries of Rio Tinto Ltd. Work programmes on the project area are managed and operated by RTE. The Yambarra tenement package is located approximately 200 km south west of Darwin on the Daly River/Port Keats Aboriginal Land Trust. The area covers portions of the Palaeoproterozoic Pine Creek Orogen, the Mesoproterozoic Victoria-Birrinduddu Basin and the Palaeozoic Bonaparte Basin. No field-based exploration was completed during the current reporting period. Office-based interpretation of remote sensed data, including digital terrain images and TM scenes, concentrated on further refining and prioritising bauxite exploration targets within the western coastal tenements in the project area. The eastern tenements are being farmed out to a third party.