First annual report for EL 9857, for the period 20 July 2007 to 19 July 2008

Abstract

Exploration License 9857 was granted to Ivanplats Syerston Pty Ltd on 20 July 2007. The tenement is considered prospective for sandstone hosted uranium mineralisation being adjacent to, and containing, the same host rocks as the Angela Uranium deposit. This License area was explored by Uranerz and AGIP for uranium, in the period 1970 until approximately 1983. During the first year of exploration Ivanplats has concentrated on acquiring, compiling and re-assessing the data obtained by Uranerz and AGIP. Much of this old data has been compiled by the NTGS into a geochemical database, using the MGA94 grid system. However radiometric data, including down hole gamma probe information, is only available in chart form. Assay information is very sparse. Reports prepared by the NTGS on the Amadeus Basin, have also greatly assisted in advancing the knowledge of the Basin. Since 1980 the stratigraphic and tectonic history of the Amadeus Basin, and particularly the Missionary Trough has greatly improved. Consequently the early model for uranium roll front exploration, used by Uranerz and AGIP, is no longer convincing. In the Final Reports submitted by Uranerz, this License area was dismissed as unprospective. The uranium occurrences intersected in drilling failed to match their exploration model. Ivanplats proposes a new model for the development of uranium deposits within the basin. Applying theories developed by Hitzman and others on sediment hosted mineral deposits, and research by CSIRO into sandstone uranium deposits, a number of target areas present themselves within the License area. Defining drilling targets from these regional hypotheses requires more detailed basin understanding. Ivanplats will instigate a program of aeromagnetics, seismic data review and drilling, as the year two field program.