2010 Annual and final report for EL 7739 Rover for the period ending 4 June 2010

Abstract

EL 7739 Rover was granted on 5 June 2000 and expired on 4 June 2010. The Licence has subsequently been replaced by SEL 27372. EL 7739 was held by Adelaide Exploration Pty Ltd (formerly Adelaide Exploration Limited), a wholly owned subsidiary of Adelaide Resources Limited, a company listed on the Australian Securities Exchange. EL 7739 is located approximately 75 km southwest of Tennant Creek covering an area considered to be highly prospective for Tennant Creek style gold-copper-bismuth deposits. Work completed on EL 7739 in its tenth and final year of title included: Western/Central Sector Gravity Surveying - Total 2,123 stations read; 2009 Drilling Operations - Fifteen precollared diamond drill holes for total 7,097.76 metres drilled. Two Westgold Resources drill holes extended across tenement boundary at Rover 1 prospect for a total 108.4 metres drilled; 2010 Drilling Operations Commenced at Rover 4 and Rover 1 - One hole abandoned in cover sequence. Two holes in progress on 4 June 2010; Partial rehabilitation of all 2009 drill sites. Completion of the 2009/2010 drilling and geophysical programs were conducted under the authority of an Aboriginal Sacred Site Clearance survey completed in April 2009.