Bridging report to cover exploration activities over MCC 809, MCC 904, MCC 905, MCC 906 and MLC 120, 01 January 2001 to 20 July 2007 Tennant Creek West Group

Abstract

Mineral Claims 809, 904 - 906 & Mineral Lease 120, Tennant Creek West, were acquired by Santexco Pty Ltd (Santexco) to search for Tennant Creek style iron oxide copper-gold deposits. This bridging report records the exploration work done on these group of tenure during the term 01 January 2001 to 20th July 2007. RC drilling at The Extension commenced on Sunday 10th October 2004. Five RC holes (EXRC009 - 013) were completed for 405m. Whilst the shallower part of the mineralization was initially targeted, only the deeper holes of the ten hole program were allowed by the TO's and CLC. Of note is that the best intercept (EXRC011) finished in mineralization at 95m. At MCC 904 - 906 Shiraz/Retsina, a total of 27 RAB holes were drilled for 567m. Shiraz (formerly Explorer 51 prospect) had no previous drilling apart from one GRM RC drill hole that intersected transported ironstone gravels and returned no significant assay results. The Shiraz gravity anomaly was considered as a medium order gravity target/anomaly (DC = ~0.5gm/cc). The area was pattern drilled using a 40m x 20m grid designed to identify near surface gold mineralisation in ironstone. The average hole depth was 21m. Preliminary gold assays were returned with no significant results to report.