Fifth Annual Report ML 27632 Year 5 period ending 21 April 2015

Abstract

Geolsec Phosphate work included a review of the historical drill cores, evaluation of the conductivity profile from TEMPEST survey free data sets against the interpreted geology. Samples of phosphate rock were taken from Geolsec from the same location as samples taken in 2013 to provide both ground-up rock and crushed rock to potential buyers and also to conduct assay and grinding tests. Assay results from the blended sample which was split into 3 sub-samples are in the attached excel spreadsheet. Majority of the work was concentrated on the evaluation of the project's potential to supply quantities of phosphate rock to in bulk to overseas buyers and of organic rock to local users and establishing contacts for distribution of the ground up rock to end users in other states. Geolsec supplied ground up rock for field trials and laboratory trials by organic farmers in Eastern States and around Darwin as well as in India and Indonesia. Initial results were positive and several parties requested additional samples for testing. Several parties also undertook site visits to the project to prepare agreements for purchase of rock.