EL 23687, EL 27317 and EL 27318 Lake Woods Annual report 3 October 2010 to 29 April 2011

Abstract

The Lake Woods project is located 700 km south of Darwin and 200 km north of Tennant Creek. The project area is centred on the Ashburton Range which runs north-south along the eastern margin of Lake Woods, a large seasonal lake. The Stuart Highway passes through the centre of the area. The Geology of the region is represented by the Middle Proterozoic Renner Group sediments, which have been intruded by pre-Cambrian dolerite. Previous exploration within the district has focused on the potential for diamonds and base metals but has been limited due to poorly developed drainage and widespread alluvial and aeolian cover. The area was originally identified as conceptual target area based on proprietary methods and modelling conducted by Paradigm Geoscience Pty Ltd. The aim of the technology is to identify targets for mineral exploration with the same signatures as major mineral deposits. The method offers a means to identify important mineral resources without the need to acquire title to broad areas, with the resultant demanding access and land use challenges. The expiration of the tenements has come prematurely pending rationalization of SEL 28198 and SEL 28199. The two SEL's will encompass all the area covered by the tenements. No work was completed within the tenements during the period as Crossland and their joint venture partners, Pancontinental Uranium Corp have undergone a revision of the companies investment strategy for this project.