Annual report for EL 24867 Rum Jungle 15 March 2007 to 14 March 2008

Abstract

The following is the Annual Report for the Rum Jungle project, EL 24867, for reporting period 15 March 2007 to 14 March 2008. Uranium West Limited are the current tenement holders with Southern Uranium Limited as managers for the tenement. In Year 2, work has comprised of extensive literature research on previous work done on EL 24867, which also included review of existing government airborne geophysical surveys. Ground work by Southern Uranium included detailed geological mapping of the entire tenement area to delineate gossanous areas and prospective structures. Rock chip sampling consisted of thirty one samples (31), analysed for twenty seven (27) elements four (4) acid ICPAES, Pt, Pd, and Au 50g FA ICPMS. No significant uranium anomalies have been highlighted although there are subtle signs of base metal mineralisation associated with the northeast trending silicified Archean faults and gossanous, hematite quartz breccias. A ground radiometric survey was conducted using a hand held spectrometer, focused on the southwest and southeastern areas. The survey consisted of 100 metre spaced lines totaling 23 line kilometres with 1,150 spectras collected at 20 metre intervals. Assay values from 5-55ppm uranium were observed over the entire survey area, with highest values along the banks of the East Finniss River.