First Annual Report on EL 5432 04-09-1987 to 03-09-1988.

Abstract

Prior to the GRM - WMC joint venture, GRM undertook survey work on EL 5432. This work involved accurate location of the western bourndary of the Warramunga Land Claim Area E, and of the southern boundary of the licence (along 19degrees18'). Additional work done by GRM included re-logging of chips from Uranerz drilling, and assaying of some of the drill samples for gold. Since the inception of the GRM - WMC joint venture, WMC has begun a compilation of regional data for the Tennant Creek area, and as part of the process aeromagnetic data have been purchased, with the cost of purchase allocated pro-rata to the thirteen Licences in the joint venture. Aerial photography covering the licence area is on order and will form the base for regional work to be undertaken in Year 2 of the Exploration Licence. WMC has also initiated an active field program on this licence in conjunction with a major program in progress on EL 4820 (Gigantic). Work completed on E.L. 5432 has included; (i) additional surveying and gridding (ii) soil sampling across an area of interest defined by GRM work on the Uranerz drilling results (iii) ground geophysics including magne tics and I.P. Fieldwork was still in progress at the end of the licence year, and no results have been plotted as yet. Once all analytical and other field data are available, plans will be prepared showing results of all work completed. It is proposed to undertake limited drilling on this licence on completion of the current program at Gigantic.