Harts Range Garnet Project Technical group report year ending 22 January 2009 EL 10150 and EL 10372

Abstract

The Harts Range Tenements are located along the valley of the Plenty River and cover 994.3km2. Olympia has been exploring in the Plenty Valley since 1997 and has identified a large resource of premium garnet in the floodplain deposits along Aturga Creek. In 2008-2009 Olympia has undertaken exploration on: Obtaining bulks samples from the Aturga deposit; Completing a detailed mineralogy study of the deposits; Completing a detailed metallurgical flow sheet review; Undertaking a review of the resources in the deposit with reference to the mineralogy; Extending the inferred resources to the east of the Aturga deposit; and Undertaking clearance approvals from the Central Land Council for reconnaissance exploration on EL10372. Olympia intends to continue exploration on the tenements in 2009. Application to reduce the covenant on the tenements has been submitted to the NT Mines Department. It is expected a drilling programme will be undertaken in the second half of 2009.