EL 5892 Goomadeer Project Partial Surrender Report

Abstract

This report describes exploration work undertaken within the 36 surrendered blocks of Exploration Licence 5892 over the four years of tenure between 2000 and 2004. The tenement is located in northwestern Arnhem Land and was granted in July 2000. Cameco Australia Pty Ltd carried out exploration on behalf of the Arnhem Land West Joint Venture, a joint venture between Cameco Australia Pty Ltd (Cameco), PNC Exploration (Australia) Pty Ltd (PNC) and the Mangingburru Aboriginal Corporation. PNCs involvement in the JV ceased in early 2002. 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 during the period includes airborne surveys (fixed wing) and geological reconnaissance mapping. Six Rotary Air Blast (RAB) drill holes and four outcrop samples are located within the relinquished portion. Geological interpretation and reconnaissance has shown that most of the relinquished land is comprised of low prospectivity Nimbuwah Complex granitoids intruded by late phonolitic dykes and overlain by Cretaceous to recent unconsolidated to semi-consolidated sands and sediments.