Annual report on EL 25414 Dashwood Project for the period 26 June 2007 to 25 June 2008

Abstract

The Dashwood Project comprises Exploration License 25414. The tenement is located approximately 150 km west-northwest of Alice Springs. The tenement is located on the northern margin of the MacDonnell Ranges, where Cenozoic sediments of the Lake Lewis Basin cover the Proterozoic Arunta Block. Permian spores have been also identified in non-marine black clays water borehole RN4755 located near Derwent Creek, suggesting that isolated equivalents of the Amadeus and Ngalia Basin rocks may also occur beneath Cenozoic cover sequences. Exploration work during the reporting period comprised data compilation, geological mapping, airborne magnetics & radiometrics processing & interpretation, rock-chip sampling, Ground Penetrating Radar (GPR) surveys. A water-bore sampling program was also conducted during the anniversary month of this tenement, and will be reported in the 2008-09 Annual report. The reconnaissance mapping has identified suitable 'hot' rocks that may act as source rocks for sediment-hosted uranium mineralisation. The prospectivity of the tenement will be evaluated once the GPR & water-bore sampling data have been interpreted.