Partial relinquishment report for EL 24684, area relinquished 8 February 2008

Abstract

This partial relinquishment report details all exploration work undertaken on the relinquished part Bynoe Project Exploration Licence 24684 on 8th February 2008. Uranex are targeting East Alligator River Uranium Field (EARUF) and/or Rum Jungle Uranium Field (RJUF) style uranium deposits. The basic uranium exploration model used assumes that the basal Sweets Member of the Welltree Metamorphics is equivalent to the Cahill Formation of the East Alligator UTS Geophysics were contracted to complete a detailed aeromagnetic and radiometric survey during the reporting period. The geophysics was further processed by Southern Geo-Sciences. With the absence of uranium radiometric responses and magnetics that didn't match the targeted stratigraphy signature it was decided that this is the area to be relinquished within EL 24684.