EL 28198 and EL 28199 Lake Woods Project Combined annual report 20 April 2011 to 19 April 2012

Abstract

During the period 20 April 2011 to 19 April 2012 Crossland completed a data review for the Lake Woods Project. Due to economic factors Crossland was forced to re-evaluate its position on the Lake Woods Project and elected to forgo ground exploration within the reporting period. Currently Crossland is in Joint Venture negotiations to further exploration within the EL. Re-interpretation of previous data has outlined one possible target area located in the South-western portion of EL 28199. Sampling conducted by Crossland along one creek returned one chromite and one microdiamond. Historical sampling also returned one microdiamond from the same creek. A 500 metre diameter magnetic anomaly is centered at approx.354 200 E, 8 013 600 N (GDA94 zone 53). The presence of chromite suggests close proximity to the source. One aircore drill line was drilled to the south of the area. LW5-3 listed Green Brown Clay from 21-34 metres (EOH). Review of the rock chips was inconclusive. It is recommended that a higher resolution follow-up magnetic survey is completed over the area to delineate possible drill targets.