First annual report on Marrakai iron ore-gold-uranium project

Abstract

During the first year of the Licence, work was restricted to a study of open files available at the Department of Mines & Energy. The open file study demonstrated that there was some significant potential for commercial iron ore, uranium and gold in the area. In December 2006, Pedro Kastellorizos, Director, of Kastellco Geological Consultancy was commissioned to carry out an open file research over the area and to recommend a detail exploration programme for the following year. During the month of January 2007, a review of re-processed and re-interpretation of magnetic and radiometric data from the Northern Territory Geological Survey Database was undertaken. This was conducted for the purpose of identifying exploration targets for iron ore gold and uranium. Numerous exploration magnetic and radiometric targets were outlined. Several first order and second order high priority radiometric targets were identified which warrant extensive work. The targeting was undertaken at a high level to identify areas of interest that stand out in the regional data. Historical prospects were reviewed to determine the effectiveness of the previous exploration and evaluate remaining potential. Through detail interpretation of airborne magnetic and radiometric data from the Northern Territory Geological Survey, the following iron ore/uranium anomalies were identified. The project areas has been shown to contain a number of clusters of first and second order radiometric anomalies that have never been investigated. The radiometric anomalies are associated with the favourable lithologies which have hosted uranium deposits in the Pine Creek region.