EL 25019 Ooratippra First annual report 26 July 2008 to 27 July 2009

Abstract

This report covers the exploration work carried out on EL 25019 during the third year of tenure from the 26 July 2008 to 25 July 2009. Work done includes: research; satellite imagery interpretation; surface sampling of magnetic anomalies; stream bed sampling; rock chip sampling; field reconnaissance; kalahari style drainage sampling; and land-owner liaison. The Project Area has been unsuccessfully explored for diamonds since the grant of title, and while the Company believes that the area remains prospective for diamonds, exploration from now on will include exploring for Olympic Dam-Prominent Hill type deposits. The large gravity and co-incident magnetic anomalies underlying the Ooratippra Project justifies a significant regional gravity survey.