Ninth annual report EL 22228 Border North East 1 from 25 May 2009 to 24 May 2010

Abstract

EL 22228 Border North East 1 was granted to Otter Gold NL (OGNL) on 8 June 2001. In 2002 OGNL was taken over by Normandy NFM / Newmont, which had the tenement registered by Australian Tenement Holdings Pty Ltd (ATH), a holy owned subsidiary of Newmont. EL 22228 was explored by ATH, which is considered to be prospective for gold mineralisation similar to the Tanami, Twin Bonanza, Old Pirate and Groundrush deposits. In December 2009, ABM Resources NL (ABM) purchased EL 22228 from ATH. ABM explores the tenement for the potential of gold mineralisation. EL 22228 is located 15km from the Western Australia -Northern Territory boundary in the Tanami Desert region, approximately 630km North West of Alice Spring. All previous exploration has been outlined in the preceding annual reports. No on-ground exploration was conducted during the ninth year of term due to the sale of EL 22228 from ATH to ABM; therefore this report covers nothing conducted during the reporting period.