2002-2003 final annual report

Abstract

The Birraduk project is a uranium exploration project in northwestern Arnhem Land.. The project comprises EL 3419 and is managed by Cameco Australia Pty Ltd (Cameco) under authority from Black Range Minerals NL (Black Range). During August and September 2002, a helicopter assisted follow-up outcrop sampling program was completed over 3 days. A total of 57 samples were collected from 38 stations. The work completed by Cameco was done under the terms of a letter agreement with Black Range dated May 21 1999. The agreement provides authorisation for Cameco to act as an agent for exploration activities on this project until a sale agreement is finalised. The sale of UAL-Black Range assets is still pending. Whole rock geochemistry has defined an area of anomalism defined by U, REE and metals along the central NNW fault controlled valley from 2001 work. This area was not extended in any direction during 2002 sampling and although anomalous within the project sampling, the overall degree of anomalism within this area is low when compared to other locales in the Kombolgie sandstone basin. The prospectivity of the Birraduk EL is considered relatively low. However, the proximity to Jabiluka, the interpreted weak, post-Kombolgie alteration and weakly anomalous geochemistry identified along linear faults within the sandstone, and the inferred presence of favourable basement lithologies may upgrade the uranium potential. Any uranium deposit beneath the Mamadewerre sandstone should be small and sub-economic based upon the nature and dimensions of the surface expression of the anomalous area. A request to NTDBIRD that this and all previous Annual Reports for EL 3419 be released from Confidential to become Open File will accompany this Report to preclude the filing of a separate Final Report encompassing all work on the EL since it was granted.