First annual report on Wiso Project

Abstract

The Wiso Basin Uranium Project is located approximately 11 kilometres south of Inverway Outstation situated on the Buntine Highway in the Northern Territory. This report describes the results of literature research and target generation based on re-interpretation of radiometric data and surface rock chip/soil sampling program carried out during the first year of the Licence. The Wiso Basin is classified as a greenfields basin as it remains completely unexplored for minerals with the potential for phosphate and base metal deposits based on the very limited work completed. The project areas have been shown to contain numerous clusters of first and second order radiometric anomalies that have never been investigated. The radiometric anomalies are associated with the favourable lithologies which have the potential to hosted uranium deposits are found in the Northern Territory, namely the Stirling Sandstone. In terms of both regional and project scale structure the Project areas are ideally situated for sandstone and unconformity style uranium deposits. In August 2008, Arnhem Exploration Services was commissioned to carry out a reconnaissance program on EL 25835. Work carried out included soil sampling (200g, 10-20 cm, -80# size), scintillometer readings and collecting rock samples along specified traverses. A total of 39 soil samples and two rock samples were collected. Based on the assay results, several very low order gold-uranium anomalies have been delineated within central portion of EL 25835.