EL 734 Arnhem Land West JV Partial Surrender Report 13 May 1996 to 12 May 2001

Abstract

This report describes exploration work undertaken within the 88 surrendered blocks of Exploration Licence 734 over the five years of tenure between 1996 and 2001. The tenement is located in northeastern Arnhem Land and was granted in May 1996. PNC Exploration (Australia) Pty Ltd on behalf of the Nadjinem Joint Venture partners, PNC Exploration (Australia) Pty Ltd, Cameco Australia Pty Ltd, and the Nadjinem Aboriginal Corporation, managed the exploration programs between 1996 and 1999. Cameco acquired management in 2000. The focus of the exploration strategy is the discovery of unconformity-related uranium deposits. The nearby economic deposits at Ranger, Jabiluka, Koongarra and the now depleted Nabarlek Mine serve as models for this strategy. The presence of gold, palladium and platinum in these deposits plus the economic gold-platinum resource at Coronation Hill in the South Alligator Valley, indicates an additional potential for this deposit style. Exploration work undertaken included an airborne survey, reconnaissance geological mapping, ground follow-up of airborne anomalies, stream geochemical sampling including bulk sampling for diamonds and RAB drilling. De Beers Australia Exploration Limited (DBAE), formerly Stockdale Prospecting Limited, entered into a farm-in arrangement with the AWJV and carried out reconnaissance exploration for diamonds in defined areas. There were no results of significance from the limited amount of exploration work completed. Several airborne radiometric anomalies were identified and followed-up and a low order BLEG gold anomaly was located within Nimbuwah basement adjacent to dolerite. The latter did not warrant further investigation.