EL 8823 Rover Project - Rover Field Annual report reporting period 8 March 2007 to 7 March 2008

Abstract

This report covers exploration completed on EL 8823 during the reporting period 8 March 2007 to 7 March 2008. The Rover Project is located approximately 100km west of the Tennant Creek township and comprises a number of granted tenements and applications that fall within aboriginal freehold lands of the Karlantijpa South Land Trust and Karlantijpa North Land Trust. The project area is considered prospective for copper and gold and base metals mineralisation associated with Iron Oxide Copper Gold (IOCG) mineralising systems. The tenement area is located immediately to the east of EL 8994 which hosts two advanced IOCG mineralised systems including the recent Explorer 108 Pb-Zn-Ag resource and provides added prospectivity in the region. Exploration activities completed during the reporting period include: Regional gravity survey over portions of the tenement area; Limited processing of the previous gravity surveys. The initial review of the gravity data suggests significant structural information can be interpreted and in light of the encouraging drill results on the adjoining tenement, it is recommended the survey be extended to the west provided access and the daily production rates can be increased or a helicopter supported survey is contemplated. The proposed 2008 programme is planned to include the acquisition of additional regional gravity stations progressively to the west. The estimated cost of the programme is $50,000. At the time of writing, the gravity data acquisition over the remaining areas of the tenement has been completed and infill surveys are to be assessed.