Annual report for EL 24312, year ending 25 January 2007

Abstract

EL 24312 was originally held to explore and evaluate the potential for potash mineralisation. The EL is located 120 kilometres south east of Alice Springs on the Rodinga 1: 250 000 map sheet (SG53-2). EL 24312 was granted to Tyson Resources Pty Ltd on 25th January 2005 for a period of six years. The tenement was purchased by Reward Minerals Ltd in November 2005. The Chandler Formation is the primary target for potash mineralisation. In the eastern part of the Amadeus Basin, the Chandler Formation contains thick sequences of evaporitic rocks. Halite beds range in thickness from less than 50 m to over 1,000 m and average 470 m thick in the Rodinga area. These thickness variations are accentuated in areas of structural thickening due to salt tectonics. During this reporting year, a review of all previous work and investigations was completed with a view to selecting targets for potash exploration, based largely on petroleum data. Radiometric data was purchased and imaged, with a view to identifying uranium targets.