Annual exploration report for EL 25297 Walker Creek, for period ending 13 March 2008

Abstract

EL 25297 is 55km SSE of Darwin, and 40km West of Batchelor, dissected by Burton Creek. Territory Uranium Company Ltd is exploring for uranium, and applied for EL 25297 to explore for U mineralisation as well as tin, tantalum and tungsten in this region. Work during Year 1 of tenure consisted of a review of both NTGS data, and compilation of significant results from Industry reports. Geochemical data was georeferenced in MapInfo to outline extent of previous exploration and to delineate previously explored faults, veins and pegmatites. Previous U exploration within the Licence is fairly limited, with CRA Exploration conducting the most extensive work in the late 1970s to the east and south east of the tenement. The majority of the work over the tenement has been directed at alluvial and elluvial tin/tantalum resources. Other work an airborne geophysical survey that covered part of EL 25297 but unfortunately the reported data is not in raw data (useable) format. Work during Year 2 will include field reconnaissance/mapping of prospective areas identified during Year 1 data compilation and review. Other work will include regolith mapping (to determine effectiveness of radiometric surveys in area), review of satellite imagery for faults/veining in granite plus drilling/costeaning if early results warrant this for Year 3.