EL 23462 Kukalak Project Annual report for the period 25 July 2003 to 24 July 2004

Abstract

Kukalak is a uranium exploration project area in northwest Arnhem Land, which is managed and operated by Cameco Australia Pty Ltd (Cameco). In the past, this project has been managed and operated jointly as the Myra-Kukalak Project that was comprised of EL 23461 (Myra) and EL 23462 (Kukalak). The exploration activities carried out in the 2003-2004 reporting period were designed to determine the uranium mineralisation potential of the Ranger Fault-Ferricrete area and the area to the north of Dog Leg. This consisted of a helicopter assisted drilling program of three diamond drill holes, two in the vicinity of Ferricrete Anomaly (Devil's Elbow) and one on the sandstone massif north of Dog Leg area. The three drill holes totalled 1125 m, intersecting Gumarrirnbang and Mamadawerre Sandstones as well as Nungbalgarri Volcanics, Oenpelli Dolerite, Tin Camp Creek Granite and Nimbuwah Complex. No significant mineralisation was intersected: best results of up to 33 ppm U are from the upper and lower contacts of Nungbalgarri Volcanics. High background U and Th values of up to 26 ppm and 69 ppm respectively in Tin Camp Granite were confirmed.