Annual technical report on EL 25268 Lake Amadeus South East, for the period 19 January 2007 to 18 January 2008

Abstract

Exploration License 25268, owned and operated by Metex Resources Ltd ('Metex'), forms the Lake Amadeus South East prospect (part of the 'Alice Springs' Project area), and is located approximately 300 km southwest of Alice Springs in the Northern Territory. EL 25268 was acquired following an Australia-wide generative program targeting uranium mineralisation. The tenement was granted on 19th January 2007, for a period of six years. Work by Metex on the tenement during 2007 included: - Open-file report and data review; - Acquisition, reprocessing and interpretation of available digital geophysics data by Southern Geoscience Consultants. A number of poorly-defined anomalies were identified from the airborne radiometrics. A field investigation including mapping has been planned, which may result in shallow drilling and/or more detailed airborne geophysical surveys.