EL 23722 Batchelor, Northern Territory annual report for the year ending 17 September 2008

Abstract

Compass Resources is very active in the Batchelor area particularly with the commencement of operations at the Browns Oxide Project. This Exploration Licence covers only a small area, however it forms a part of Compass' overall exploration project in the Batchelor area. Compass Resources is currently spending at the rate of approximately $8.5 million annually on the exploration of its tenements at Batchelor and is looking at this particular area in a holistic regional exploration context so as to keep the licence intact for future mine development. During the reporting period, Compass Resources focussed on compiling historical data that will be essential in planning future drilling programs, evaluating and rehabilitating previous drill targets as well as developing a 3D geological model. During Year 5 of Exploration Licence 23722, work carried out to date by Compass Resources has comprised further compilation of historical data as well as the flying of digital photography in order to develop a detailed base for previous exploration works. This data will be required in planning future drilling programs, evaluating previous drill targets as well as developing a 3D geological model. The rehabilitation of drill sites used during a 2007 drilling program was also undertaken in conjunction with ongoing maintenance of access tracks to a restricted extent so as to minimise environmental disturbance.