EL 28199 Fourth annual report for the period 29 April 2014 to 28 April 2015

Abstract

This Annual Report covers the fourth and final period of tenure as an SEL. The subject licence is held by Crossland Diamonds Pty Ltd and operated by Crossland Strategic Metals Limited (Crossland). The project is located approximately 700 km south of Darwin and 200 km north of Tennant Creek, immediately west of the Stuart Highway and just south of the community of Elliott. The area was originally identified as a conceptual target area based on proprietary methods and modelling conducted by Paradigm Geoscience Pty Ltd. The principal target commodity was diamonds. In later years additional exploration concepts were developed, which involved the search for base metals and copper-nickel-platinoids. Historical exploration in the region had focused on the potential for diamonds and base metals, but was limited due to poorly developed drainage and widespread alluvial and aeolian cover. During the subject period, Crossland planned a ground magnetic survey over the most prospective area delineated by the airborne survey, which was conducted in December 2013. Logistical issues prevented the survey from taking place.