Annual report on EL 25244, year ended 8 November 2008

Abstract

Korab Resources' targets on this tenement are volcano-sedimentary base metals, vein type uranium and quartz complex gold mineralisation. This years program has concentrated on a tenement wide check of NTGS mapping along with composite rock sampling and detailed radiometric traversing using highly sensitive modern equipment. Korab Resources Ltd successfully carried out a detailed ground radiometric survey over the tenement along with selected rock sampling of the stratigraphy. An occurrence of possible Mt Deane Volcanics has been found on the eastern boundary of the EL which warrants follow up in view of that unit having anomalous nickel, zinc and arsenic values elsewhere in the area. A slightly elevated TC radiometric area has been defined near the centre of the tenement that warrants followup.