December 31, 2006 An expanded gravity survey was completed during the period to map possible hematite breccia targets at the Peake and Denison project. Several low magnetic, high gravity anomalies targeting hematite associated copper-gold-uranium mineralisation have been defined for drilling in early 2007
when a suitable drill rig becomes available.
June 30, 2006 A conventional diamond core drilling program was completed during the year with three of six holes intersecting encouraging magnetite±hematite ironstones which led to an expanded gravity survey to map possible, hematite rich breccia targets. Processing and interpretation of the gravity data is in
progress in preparation for drilling in 2006.
March 31, 2006 Expanded gravity surveys in progress over the Peake and Denison project and new
Roxby Hill projects in South Australia targeting hematite dominant Iron Oxide Copper Gold (IOCG) systems.