Annual Report for EL 2857 and EL 4012 Gunbatgarri Project 19 March 2004 to 18 March 2005

Abstract

This report describes exploration work undertaken on the Gunbatgarri project for the third year of tenure. The tenements were formerly part of the Arnhem Land West Joint Venture, a joint venture between Cameco Australia Pty Ltd (Cameco), PNC Exploration Australia Pty Ltd (PNC) and the Ngalangak Aboriginal Corporation. Cameco, in 2002, attained management then ownership of the project when PNC withdrew from exploration activities in Australia. A large portion of EL 2857 was relinquished on the anniversary date 2004. Field activities during the report period consisted of five days of helicopter assisted sampling, mapping and reconnaissance of structural targets, and areas of interest. An airborne electromagnetic survey (Tempest) was conducted over the southern portion of EL 2857. Anomalous U was discovered within sandstone samples to the south of the basement window in conjunction with minor structural disruption. Further work is recommended in the area of the basement window, and sampling areas of structural disruption, as these may provide fluid conduits necessary for U mineralisation. Drilling is recommended to the south of the basement window, proximal to the sampled sites of anomalous geochemistry.