EL 23437 Castlemaine Annual report for the year ended 29 December 2007

Abstract

This tenement is considered prospective for uranium, copper, lead, zinc, cobalt and nickel mineralisation. There are also some existing phosphate prospects in the tenement, however the phosphates do not appear to have economic importance. During the year data acquisition and compilation of drill data continued. The main prospect was tested with a 301m deep diamond drill hole. Despite not reaching the target contact the results from the 2005 RC drill hole were sufficiently encouraging to plan additional drilling. The contact position must be displaced by significant folding or faulting and this will require further drilling to resolve. The tenement was covered by new digital aerial photography.