Annual combined report for ML 24511 for period ending 4 December 2009

Abstract

This annual report covers ML 24511 a 909.4 hectare mining lease which covers the Lethbridge West high grade mineral sand deposit. The ML is located on Melville Island, which forms part of the Tiwi Islands in the Northern Territory. In the reporting year the primary focus of exploration and development was advancing the resource estimate for Lethbridge Bay and via environmental studies moving the project closer to approval to commence mining in early to mid 2010. A number of shell auger holes were drilled and small pits excavated with an excavator to confirm previous results at Lethbridge and provide additional information for mining purposes. TBE analysis was completed on the samples and modal analysis on a composite sample performed. In addition a revised resource estimate for the Lethbridge Bay mineral sand resource was completed.