Ngalia Thrust Annual Report on EL 24566 for the period 21 October 2006 to 20 October 2007

Abstract

During the reporting period, UXA completed a airborne radiometric, magnetic and terrain elevation geophysical survey. The survey was flown by GPX Aeroscience Pty Ltd and covered the entire tenement and totalled 2930 line kilometres. At the time of writing this report, UXA was in the process of evaluating data received from the airborne geophysical survey. Following this evaluation and interpretation, field investigations will be conducted focussing on anomalous results of interest with a longer term view for generating drill targets. Immediate areas of interest based on geophysical data include the large 'bullseye' magnetic anomaly and uranium only anomalous regions. Areas of interest based on geology include basal granites and younger sedimentary units of the Ngalia Basin. The Yuendumu Thrust will be an area of prime focus for future mapping and drilling.