Annual and final report for EL 9890 'Yambla', 21 May 2002 to 10 April 2007

Abstract

EL 9890 'Yambla' lies within the Eastern Arunta region and is situated approximately 130 kilometres northeast of Alice Springs. The tenement was granted on 21 May 2002 to Paladin Energy Minerals NL (Paladin), a subsidiary of Paladin Resources Ltd, a publicly listed company. Deep Yellow Ltd (DYL) purchased the Yambla tenement from Paladin on 9 December 2004 and transfer was given effect on 9 February 2005. This report describes exploration carried out on the retained area of EL 9890 'Yambla', during the period 21 May 2002 to 10 April 2007. The Yambla Prospect received its initial investigation during the mid 1990's when it was part of PNC Exploration Ltd's tenement package in the district. Mapping, trenching and diamond drilling by PNC located uraninite mineralisation within metasomatic alteration zones hosted by the Yambla Amphibolite (an informal subdivision of the Riddock Amphibolite, (Drake-Brockman et.al. 1996)). Subsequent evaluations have been limited to reviewing the original fieldwork carried out by PNC and follow-up RC drilling of selected structural targets generated in-house by Deep Yellow.