Myrtle Extended Project Annual report for the period 3 July 2010 to 2 July 2011 EL 23515

Abstract

This document is submitted as an annual report for the Myrtle Extended exploration licence EL 23515. Exploration activities for this license year were impacted by a number of factors, including: record 2010/2011 wet season and issues with finding contractors and suppliers. EL 23515 forms part of the greater Myrtle-Reward project area owned by Rox Resources that has now been joint ventured to Teck Australia Pty Ltd, who will commence field work on the area in 2011. EL 23515 is prospective for SEDEX (sediment-hosted) style zinc-lead mineralisation. At the nearby Myrtle prospect, significant SEDEX style zinc lead deposit has been discovered and defines a resource of 43.6 million tonnes grading 4.09% Zn and 0.95% Pb. EL 23515 was not managed by Teck for the entire license year, which reduced the work period significantly. Work undertaken was limited to literature searches, database compilation, general research and report preparation. Work by previous explorers was limited in nature and failed to identify any significant anomalous zinc-lead values. EM conductors and favourable geology may indicate prospective areas for SEDEX style zinc-lead mineralisation and will be investigated during the next tenement year. Acquisition and re-processing of geophysical data was undertaken and showed up a number of areas worthy of further work, namely the area just north of the Myrtle deposit. Examination of old Mines Department reports did not reveal any results of significance.