EL 25694 Central Mount Annual report 20 August 2010 to 19 August 2011

Abstract

This report details work completed during the period, 20 Aug 2010 to 19 Aug 2011. During this period, Terra Search Pty Ltd conducted a drilling program for Tianda Uranium Australia Pty Ltd in their Central Mount tenement EL 25694. Drilling was undertaken to investigate at depth the encouraging surface rock chip uranium anomalies. Twelve RC holes totalling 1181 metres were completed before onset of rain lead to abandonment of the final planned hole. All holes were to nominal 100 m depths; one was vertical and all others were at 60o dips. Drill cuttings were bagged every meter and sent for geochemical assay. Magnetic susceptibility, portable gamma scintillometer and handheld spectrometer measurements were taken over all cuttings. The drilling failed to identify any economically significant uranium. The geology is dominated by a granitic gneiss and there are biotite rich bands within the gneiss that appear to be elevated in uranium. Surface anomalies are associated with ferruginisation of these bands and scavenging of the uranium. No more work is recommended in the prospect. Within the tenement there is potential for paleochannel uranium deposits with the granites and granitic gneiss as potential source for uranium.