EL 26524 Annual report for the period 23 July 2010 to 22 July 2011

Abstract

This report covers activities on EL 26524 which was granted to Exploration and Resource Development Pty Ltd (now Australian Ilmenite Resources Pty Limited) on 23 July 2009 for a period of 6 years. The Project lies in the Urapunga Fault Zone within the Bauhinia Shelf of the Proterozoic McArthur Basin. The area is underlain by sedimentary rocks of the Collara and Maiwok Subgroups of the Mesoproterozoic Roper Group. The Kyalla Formation in the area has been extensively intruded by sills of the Derim Derim Dolerite. The area has previously been explored for heavy minerals, iron ore, base metals, uranium and diamonds. Exploration during the current year has included an airborne radiometric/magnetic survey over one area within the EL, reconnaissance sampling and mapping for oolitic iron ore and field checking of uranium anomalies.