Relinquishment report for EL 3106 Arrarra for period 17 April 2003 to 16 April 2008

Abstract

The Arrarra Project is located in north-western Arnhem Land, and is managed and operated by Cameco Australia Pty Ltd. EL 3106 was granted on the 17 April 2003 for an initial period of six years. At grant, the total area under licence was 83.6 km2 comprising 26 sub-blocks; from this 24.4 km2 (29.2%) was excluded from exploration as 'non-consent' areas by the Northern Land Council. A partial relinquishment of 5 blocks for 16.42 km2 of EL 3106 was actioned on the anniversary date of 16/3/2008. 21 blocks for an area of 68.98 km2 has been retained. No other relinquishments have been made from the original area of grant. Geophysics was not conducted over the relinquished blocks as 80% of the ground is non-consent. As a result, no geophysical targets were generated for follow up drilling. In 2004, two outcrop samples were taken in the south-east relinquished corner block. The highest U detected was 3.00 ppm in a phyllite of the Myra Falls Metamorphics. The relinquished portions of EL 3106 are not considered prospective for U mineralisation and further exploration is not warranted.