Annual report MLN's 661 - 672 incl, 679 and 680 Maranboy Northern Territory for the period 31st Dec to 31st Dec 2007

Abstract

The Maranboy Tin Field is a small inlier of Proterozoic rocks that are surrounded by Cambrian and Cretaceous sediments. This inlier contains mineralised sediments with the main ore mineral as cassiterite. The ore has formed as fine grained cassiterite in quartz and tourmaline fissure lodes infilling systems of conjugate fractures and shear zones. These lodes strike 110 degrees to 160 degrees. The area has been historically mined for tin since 1915. During 2007 a proposal was made by 'Outback Metals Ltd' to acquire 'Softwood Plantations Pty Ltd'. In anticipation of this transaction being completed a decision was made to suspend all activities until the transaction was finalised. Since the above mentioned transaction was proposed all associated work in this site has been associated with the business side of the transaction including acquiring an Independent Geologist Report which was carried out by Al Maynard and Associates Consulting Geologists. A review of the tenements held by Softwood Plantations was also carried out by Hetherington Exploration and Mining Title services. These consultations included an audit of the current resource statements that have been made in recent years. A development strategy has been developed which includes an infill drilling program, the purpose of which will be, to prove up the possible ore to a JORC compliant resource statement and then to develop the Maranboy site into production. The development programme is to begin in 2008 with the mobilization of a drill team to the Maranboy site. The team will begin using a RC drill to define the possible ore ranges.