MLN 1070, MLN 1071, MLN 1127 Annual Report for the period ended 4 March 2013 Mount Todd Project

Abstract

The three mining leases, MLN 1070, MLN 1071 and MLN 1127 comprise a portion of the Mount Todd Project area and cover 54.15 sq km (4 percent of the project area). The mining leases are situated approximately 42 km north of the town of Katherine. Work on the project during the reporting year included 15618.3m of drilling consisting of forty (40) holes. Twenty-seven (27) of these were diamond holes and of these twenty-five (25) were resource definition holes testing infill and step-out targets in the Batman orebody and two (2) were remnant resource definition holes, for a total of 15439.7m of diamond drilling. The remaining thirteen (13) holes were air-core into the heap leach pad, totaling 175m. All of the drilling was conducted on MLN 1070. A total of 15,737 drill samples and 44 grabs were submitted from the program to North Australian Assay Laboratories for analyses.