EL 26866 Ayliffe Swamp First and final annual report 20 March 2009 to 3 March 2010

Abstract

EL 26866 was granted to Acacia Minerals Pty Limited (Acacia) on the 20 March 2009 for a period of 6 years. The Company also held four adjoining Exploration Licences numbered EL 22488, EL 24869, EL 24993, EL 25019. Acacia Minerals was a wholly owned subsidiary of Adelaide River Resources Limited which subsequently changed its name to NT Resources Limited and listed on the Australian Stock Exchange (ASX) in February 2010 thereby raising $3,000,000 by public subscription. EL 26866 and adjoining Licences were worked as one project previously known as the 'Ooratippra Diamond Project' and now known as the Ooratippra base metal Project. The Ooratippra base metal Project area covers a major regional magnetic anomaly coinciding with a regional gravity anomaly within basement rocks of the concealed Altjawarra Craton that remain virtually untested. The gravity anomaly is of similar strength to those at Prominent Hill and Olympic Dam, two well-known examples of Iron Oxide Copper Gold Uranium ('IOCGU') style of mineralisation in South Australia. An alternative interpretation of the anomalies could be as either kimberlitic or carbonatite intrusions. EL 26866 was automatically cancelled on the 3 March 2010 and the area is now within SELA 27526. During this year however, principal efforts have been preparing the Company for listing on the Australian Stock Exchange (ASX) and exploring the Frazers-Acacia Prospect. Consequently, less exploration programme was carried out on EL 26866 than anticipated. This First and Final Report summarises the exploration work carried out on the Licence during the first year of tenure and from the date of grant to the 3 March 2010 with the granting of SEL 27526. The area covered by EL 26866 is now part of SEL 27526 over which a major gravity survey and soil sampling programme is planned for July-August 2010 as part of the Company's search for an Olympic Dam style deposit. The co-incident gravity and magnetic anomalies are shown below.