Hi AllExciting times for the next one month – why ?1. Upgrade of...

Hi All

Exciting times for the next one month – why ?

1. Upgrade of resources of Tripitaka Prospect
12/12/2005 11:10AM

Adelaide Resources and its Colona JV partner, Iluka Resources, have received further drilling results from an additional five reconnaissance traverses over the Tripitaka Prospect. Highlights include: 18m @ 3.8% HM and 13.8% Clay and 15m @ 2.9% HM and 16.6% Clay. Additionally, further results have been received from infill holes drilled on the original discovery line 5084SE. Highlights include: 21m @ 5.6% HM and 16% Clay. Higher Grade Results from Tripitaka (Requires Adobe Acrobat Reader)


2. Gold assays announcement of Rover tenements

3. Uranium play.

Of the 3, I personally like the upgrade of resources of Tripitaka Prospect. Today report confirmed that Iluka has confirmed their take-up of this JV project to 51%. Because of it high grades and nearness to in fractures it is highly likely that Iluka will eventually buyout AND for the project. Last run in Dec 05 was for 70 cents and this time round it will perhaps break $1.00 mark and the tonnes of resources can only go higher and higher from Dec 06 announcement.

Take note - all these happenings in one months’ times.