Annual technical report on EL 24566 Ngalia Thrust, for the period 21 October 2007 to 20 October 2008

Abstract

Exploration Licence (EL) 24566, 'Ngalia Thrust' is located approximately 320km northwest of Alice Springs in the Northern Territory. The tenement is situated on the boundary of the Doreen (5153) and Yuendumu (5253) 1:100,000 map sheets within the Mount Doreen 1:250000 map sheet. Lithology within the tenement comprises Palaeoproterozoic schist, quartzite, granofels and migmatite gneiss with slightly younger intrusive granite and Neoproterozoic to Palaeozoic sedimentary units of the Ngalia Basin. Exploration comprised evaluating and interpreting geophysical data, field mapping, chemical analyses of 16 selected samples and petrological evaluation of 10 selected samples form the Crystal Creek region and relogging Annie Spring drill core from previous exploration activities. Drill targets were generated for the Crystal Creek and Annie Spring prospects. Several uranium mineralisation models have been proposed for Crystal Creek and Annie Spring prospects including unconformity, fault hosted, supergene and IOCG. Based on these models, a drilling program comprising approximately 2000m of HQ diamond core drilling has been planned and was commenced at the time of writing this report.