EL 8994 Rover Project Tennant Creek Inlier Annual Report reporting period 8 March 2006 to 7 March 2007

Abstract

Exploration activities completed during the reporting period include: Re-establishment of previous exploration tracks; Establishment of camp facilities; Regional gravity survey over the entire tenement area; Detailed gravity surveys over priority prospective regions within the tenement; Processing of the gravity surveys; Orientation IP survey; Drill site preparation; and Diamond drilling on two prospects Explorer 108 and 142. Existing exploration tracks were upgraded to allow exploration to commence together with the establishment of a base exploration camp immediately north of EL 8994. An on ground gravity survey was completed over the entire tenement area on 500m station spacing x 1000m line spacing. Further smaller prospect areas were infilled to a minimum of 50m x 200m spacing. A trial surface IP survey was completed however results indicate the 200m Wiso Basin sediments are impeding the IP response over the known sulphide mineralisation. A total of 11 diamond drill holes were completed during the reporting period. Eight (8) holes were completed at the Explorer108 and three (3) at the Explorer142 prospects respectively. Highly encouraging Zn-Pb-Ag results were encountered at Explorer 108 and also Cu- Au at Explorer 142. Over $2M was spent during the reporting period. The proposed 2007 programme is planned to include the acquisition of additional infill gravity stations throughout the tenement, trial downhole IP, RC and diamond drilling at Explorer 108 and Explorer 142.