Annual report on SEL 24769 Marqua 9 August 2007 to 8 August 2008

Abstract

Uramet Minerals Ltd previously identified the potential for base metals and phosphorite in the Marqua tenement located approximately 550km east of Alice Springs, NT. This report details exploration work carried out by Uramet Minerals Ltd within the Marqua tenement (SEL 24769) in the Northern Territory for the 2007-2008 field season. The tenement was transferred from Elkedra Diamonds NL during the 2007 season and covers an area of 971km2. Exploration consisted of regional reconnaissance work and detailed mapping and geochemical analysis of rock chip and drill spoil samples. A helicopter-borne electromagnetic (EM) survey took place over the southeast part of the tenement in October 2007 with final data products supplied in early 2008. Regional field reconnaissance and detailed mapping was carried out between May and July 2008 with extensive outcrops of phosphatic rocks being located and several gossans being identified. Historical drill core and drill chip samples were examined and re-assayed for base metals and phosphate.