MLN 792 Annual report for the period ended 31 December 2016

Abstract

MLN 792 was granted on 26 January 1982 for a period of 21 years, renewed on 17 November 2005 for a period of 10 years and then again on 7 June 2013 for a period of 5 years. The lease encompasses 3 hectares. The tenement was purchased by Mr Ray Woodridge in part for its prospectivity within the International area and to serve as a location to operate an assay lab to service the mining industry within the NT. Preliminary talks have been conducted over the years with the various holders of the surrounding MLN 1130 tenement, however they have often been forestalled by the failure of the holder of MLN 1130 to be able to continue economic operations. There is evidence that drilling has occurred on this tenement and as a priority, this drilling information needs to be sourced, compiled and interpreted. No exploration activities have taken place on the tenement apart from site visits by geologists from Stratus Resources Ltd and literature review required for the compilation of this report.