Roper Fe Project EL 24101 Mount Fisher Fifth annual report for period 20 August 2008 to 19 August 2009

Abstract

EL 24101 was granted on 20 August 2004 to Geoffrey John Fanning and subsequently transferred to TZ Enterprises Pty Limited late in 2007 a Darwin based resource sector company for a period of six years. On 5 February 2009 TZE changed its name to North Australian Iron Ore Pty Limited. The license area of 180 sub-blocks was originally applied for to target the iron ore potential as a series of deposits and identified by BHP in the 1950's along with the Heavy Mineral potential arising from the dolerite sills scattered throughout the area. NAIO also recognise the prospectivity of the area for diamonds and a comprehensive assessment is underway as is the uranium potential of the EL. This report details all exploration activity carried out over the tenement. Iron ore exploration has included a small helicopter based geological survey and sampling program to assess the geology, extent and content of the Sherwin ironstone member exposed throughout the EL. Diamond exploration included an assessment of previous efforts by various companies against the Departmental diamond database. Heavy Mineral Exploration included mapping, a small sampling program and reassessment of the results against current company databases while two marketing trips with members from the Shandong Dongjia Group and Sinosteel Mining were recorded. Uranium exploration has included large scale mapping and interpolation of existing datasets to identify anomalies within the lease area as well as investigations into past reports available within the Departments open file reports. An Exclusive Access Agreement was signed with Sinosteel Mining Co. Limited in 2009 to conduct due diligence and exploration throughout this EL and the Roper FE Project Area.