Harts Range Project Annual report for EL 25063 for the period ending 19 November 2009

Abstract

EL 25063, plus EL 24552 and EL 25430, comprise Barfuss Corporations Harts Range Project, covering more than 700 square kilometres. Underlying geology through most of the area consists of high-grade metamorphic rocks of the Arunta Block, including the Harts Range Group (part of the Late Proterozoic to Cambrian Irindina Province), with older Aileron Province rocks in the east ('Entia Dome'). Field activity to date has included reconnaissance mapping, extensive rock-chip sampling and detailed ground spectrometer surveying in a number of areas of interest. Detailed air-borne geophysical surveying is planned. A significant number of prospects have been identified. In EL 25063, these include several pegmatite dykes with very strong uranium-niobium-yttriumtantalum(-REE) mineral enrichment (e.g. 'Bobs' prospect, and 'Pearly Gates' to the north) (assays over 7 % uranium). Prospectivity for other minerals is indicated by, for example, the Harts Range Ruby Mine and a near-by vermiculite prospect (surrounded by this licence). A number of prospects within the area of EL 25063 are now covered by Mineral Claims held by Barfuss Corporation, and include areas of copper-gold anomalism, thorium-rare-earth anomalism and trace copper-tungsten anomalism. During the current reporting period, field work - and therefore 'numerical' results (sampling, drilling, surveying) - was largely prevented due to a protracted legal dispute with the company's principal former financial backer resulting in all funds earmarked for on-ground activity being 'frozen'. This dispute was not concluded until late in the reporting period, when Barfuss Corporation was finally able to bring the matter to court, whereupon the parties rapidly settled out of court, largely in Barfuss' favour. Barfuss Corporation is now free to spend its own funds on its projects and/or seek other funding or partners. The company regards the project as highly prospective and is keen to resume significant exploration activity on it. Discussions with a number of prospective joint venture partners had begun even before the legal dispute was settled.