EL 23897 4th Annual Report year ending 9th February 2008 5th Year MMP year ending 9th February 2008

Abstract

EL 23897 (Ewan Edward) is situated approximately 25 kilometres southeast of Tennant Creek. EL 23897 was granted to Resource Holdings (WA) Pty Ltd in 2004. Truscott Mining Corporation Ltd acquired 90% of the licence and assumed management in late 2005, and Resource Holdings retained 10% Following evaluation of previous exploration results, Truscott planned and carried out a Reverse Circulation drilling programme in July 2006 to test for hematite hosted gold mineralisation on EL 23897. Results from this and the previous year's RC drilling were then incorporated into remodelling of detailed ground gravity data, to refine exploration targets for 2007 drill testing. Details of work carried out are given in this report, together with recommendations for follow-up exploration.