Fourth annual report EL 25019 Ooratippra Area for the reporting period 26 July 2009 to 3 March 2010

Abstract

Southwestern Mining Company Pty Limited (ACN 104 649 774) (Southwestern) was granted EL 25019 on the 26th July 2006. Principal reason for the acquisition was the Company's belief that the area is highly prospective for diamonds with some prospectivity for base metals. Subsequent work has reduced the prospectivity for base metals. In 2007, the Licence was transferred to Acacia Minerals Pty Limited, a wholly owned subsidiary of public company, Adelaide River Resources Limited, ACN 127 411 796 which subsequently changed its name to NT Resources Limited which listed on the Australian Stock Exchange (ASX) in February 2010 thereby raising $3,000,000 by public subscription. The Company also held four adjoining Exploration Licences numbered 22488 24869, 24993, 24822. EL 25019 and adjoining Licences were worked as one project previously known as the 'Ooratippra Diamond Project' and now known as the Ooratippra base metals Project. The Ooratippra 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 25019 was automatically cancelled on the 3rd of 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, no exploration was carried out on EL 25019 during the 8 months partial Fourth year. This Final Report summarises the exploration work carried out on the Licence from the date of grant to the 3rd of March 2010.