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CONSTRUCTION MATERIALS Burt Plain Project continued The holes intersected mafic gneisses from shallow depth with a consistent magnetite content of about 10%, which explains the observed magnetic and gravity anomalies. All holes also intersected substantial intervals of pyrite, which is clearly the source of the IP responses. Drill core samples were analysed for a suite of elements. Base metals, precious metals and uranium values were uniformly low. Significantly, all holes show enrichment in vanadium with weak associated cobalt, nickel and barium values. Better vanadium intersections are shown below: Drillhole Downhole depth Thickness Assay result DD07BP01 227-370m 143m 533ppm V2O5 DD07BP01 362-370m 8m 971ppm V2O5 DD07BP02 200-235m 35m 443ppm V2O5 DD07BP02 260-320m 60m 471ppm V2O5 DD07BP03 25-145m 120m 452ppm V2O5 DD07BP03 180-255m 75m 445ppm V2O5 DD07BP05 55-70m 15m 516ppm V2O5 DD07BP05 130-155m 25m 485ppm V2O5 DD07BP06 235-420m 185m 486ppm V2O5 It is postulated that the vanadium is associated with magnetite. Vanidiferous magnetite occurs in many gabbroic bodies worldwide and is mined in South Africa and Russia. Vanadium is an essential element in the composition of certain types of specialised steel. Further exploration will be required to determine whether zones of higher magnetite content occur within the mafic gneisses. Any magnetite-rich zones could be expected to contain higher and possibly economic vanadium values. A detailed airborne magnetic survey is planned to determine targets for further drilling. Diamond drilling at the Capricorn prospect, Burt Plain. During 2008 exploration work on the tenement included: • Acquisition of airborne EM data over the tenement using the Tempest system. • Acquisition of gravity data over the western part of the tenement in conjunction with the NT government’s regional gravity program. • Collection of water samples from six bores. Following interpretation of the EM data, drilling may be undertaken by NuPower Resources for palaeochannel uranium deposits. 10
WESTERN DESERT RESOURCES LIMITED ABN 48 122 301 848 Limmen Bight River The Limmen Bight River Exploration licence, EL25905, is located in the McArthur Basin of the Northern Territory. Previous exploration has focussed on base metals, diamonds and energy metals. WDR believe it may have potential for iron ore, as the geology is of a similar age to that at the Roper Bar project area, 100 kms to the north. No field work was undertaken during the 2008 financial year. The project area encompasses an ironstone unit of Jurassic age, which crops out over an area in excess of 400 sq kms. Wide-spaced drilling carried out by explorers in the early 1980s, identified a metallurgically complex iron deposit. Assays from most drillholes returned iron values in the range 30%-40%. During 2008 the company conducted field reconnaissance including rock chip sampling. Twenty-one samples assayed 19.2% to 43.9% Fe. Significantly, the phosphorous values are consistently high, in the range of 0.2% to 2.8%. Dawsonvale The Dawsonvale project comprises three contiguous EPM’s located east of Taroom, about 400 kms northwest of Brisbane. The tenements were purchased from Bluekebble Pty Ltd in January 2008, to investigate the iron ore potential. In August 2008 the company reached agreement for the sale of the Dawsonvale tenements to Aard Metals Limited (“AAM”) an explorer with a specific interest in Queensland based exploration projects. Consideration for the sale is five million fully paid shares in the capital of AAM and a royalty of $1.75/tonne of any iron ore produced from the tenements. In the event that AAM fails to list on ASX prior to 31 December 2008 then the tenements revert to Western Desert Resources Ltd for nominal consideration. Western Desert Resources geologist Suzanne Roberts sampling ironstone at Dawsonvale. 11
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16 KEY MANAGEMENT PERSONNEL COMPENS
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WESTERN DESERT RESOURCES LIMITED AB
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20 FINANCIAL INSTRUMENTS b) Financi
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DIRECTORS’ DECLARATION The direct
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Independence Report on the Remunera
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