Annual report for EL 10288 Blueys Project for the period 20 July 2007 to 19 July 2008

Abstract

The Exploration Licence was held by Imperial Granite and Minerals Pty Ltd and then Tennant Creek Gold Pty Ltd until it was acquired by WDR Base Metals P/L on July 20th 2007. The tenement covers ground prospective for base metal and uranium mineralisation. Low Level airborne magnetic/radiometric surveys were flown over the Blueys Project by UTS Geophysics between November 26th, 2007 and January 5th, 2008. This was conducted in a north south direction with 100 metre line spacing at a height of 40 metres. A total of 644 line kilometres of airborne magnetic and radiometric data was acquired. A high-resolution helicopter borne EM survey was completed over the entire Blueys tenement by Geoforce P/L using their SkyTEM system. The SkyTEM survey was completed on January 14th, 2008. Electromagnetic information was recorded on traverses 150 metres apart at a height of 30 metres. A total of 354 line kilometres of airborne EM data was acquired. Three ground traverses were conducted over the Thorium anomalies in the Blueys area over several occasions during the reporting period. A significant Thorium anomaly in the south of Blueys area was sampled and is associated with an altered granite gneiss close to the unconformity/contact with the Heavitree Quartzite. A collection of rock chip samples were taken during traverses over the main Thorium anomaly. The tenement was visited in May to survey proposed drill sites from the EM interpretation. The original proposed Blueys drilling programme was changed from RC percussion to diamond drilling due to the inability to source an RC rig. Two 250m deep diamond holes were planned. Two diamond holes were completed by Titeline Drilling P/L between June 16th and June 25th, 2008, with a total depth of 410.5 metres drilled. The first hole, BL001, was drilled to a depth of 237 metres and the second hole, BL002, was drilled to a depth of 173.5 metres. A wireline probe for gamma radiation, magnetic susceptibility and magnetic induction was conducted down drill hole BL002 by Borehore Wireline on July 15th, 2008. A probe was unable to be conducted on BL001 due to collapse within the hole.