Annual report Year 3 EL 25676, 22 August 2009 to 21 August 2010

Abstract

This annual report outlines exploration activities undertaken by North Australian Diamonds Limited (NADL) on EL 25676 between the 22 August 2009 and 21 August 2010. This period represents Year Three of the license. On 18 September 2007 NADL granted Top End Uranium Limited (TEUL) the right of access to the land covered by EL 25676 for the purpose of exploring for, mining and processing minerals other than diamonds. This report includes work undertaken by both NADL and TEUL. EL 25676 is situated on the Walhallow (SE53-07) 1:250,000 geological mapsheet and the Lancewood (6163) 1:100,000 topographic mapsheet in the Northern Territory. It is located around 120 kilometres south of Borroloola and is accessed via existing unsealed tracks leading from Kiana Station. Previous exploration has included an extensive search by various companies for kimberlites that has recovered significant numbers of chromites and diamonds in loam samples. Field work during the reporting period included the completion of three drill programs involving the collection of 113 down-hole indicator and 279 geochem samples. An RC drilling program was conducted to test EM 34-3 targets and soil geochemical targets. 47 additional geochemical samples were taken based on follow-up geochemical samples taken in 2008. A Ground gravity survey was flown over 4 areas of the tenement with a total of 20.7 line kilometers.