Annual and final report on EL 23035 Goomadir River project

Abstract

The Goomadir River Project is located in Western Arnhem Land, approximately 250km east of Darwin and comprises Exploration Licence EL23035. In June 2007, in accordance with regulations outlined in Sections 26 and 27 of the Mining Act, 50% of the tenement was relinquished. Exploration work conducted during the 3rd and final year of tenure comprised a helicopter-supported outcrop sampling program and general geological reconnaissance, in which thirty-nine outcrop samples were collected. Geological reconnaissance, extrapolation and interpretation has shown that the relinquished land is comprised of Nimbuwah Complex basement rocks (of which there is no outcrop exposure), overlain by Palaeoproterozoic Gumarrirnbang Sandstone and Cretaceous to recent unconsolidated to semi-consolidated sands and sediments. There have been no significant results returned from the exploration work carried out to date, therefore Cameco Australia surrendered the remaining portion of the Exploration Licence on 22 April 2008.