First annual report on Hayes Creek Project

Abstract

This report describes the results of literature research and target generation based on re-interpretation of magnetic/radiometric data carried out during the first year of the Licence. The Hayes Creek Project area is located in western part of the Pine Creek Geosyncline and is wholly within pastoral land immediately to the south of the Fleur de Lys, Lady Joesphine and Burrundie uranium prospects. The main focus of exploration is the discovery of unconformity-related and vein hosted uranium deposits. The uranium deposits of Ranger, Jabiluka, Koongarra and Nabarlek serve as models for this exploration within the Project area. The project areas have 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 region. Regionally, the project area is located on the central part of the Pine Creek Orogeny (PCO) which contains the mined uranium deposits in the Northern Territory. The PCO also contains major gold resources in the Northern Territory, which also contains economic quantities of gold, base metals, tin, cobalt and nickel. Tenement area has high potential to host significant base metal - gold mineralisation as very little base metal/gold exploration has been conducted over the current project area. On the southern side of EL 24814 a 'regional' magnetic anomaly is classified as walk up drill target which warrants ground magnetic modelling, followed by drilling over the highest intensity zones.