Annual and final report for EL 25872, period ending 30 October 2008

Abstract

Sandstone Uranium Pty Ltd is exploring the Northern Territory for uranium mineralization over four tenements. This report summarises exploration activities undertaken in 2008 on EL 25872. The tenement is located on Beetaloo Station (Pastoral lease) about 50km NE of the township of Elliot, and about 300km north of Tennent Creek. The geological setting is the Dunmarra Basin, a Cretaceous sedimentary basin comprising interbedded shales and sandstones. The prospective area was defined using aerial geophysics and palaeochannels were chosen as possible targets to host roll-front type uranium mineralization. A total of 402m was RAB drilled vertically from four locations, targets 1-4, work was completed from 15th July to 18th July 2008.Drilling was completed by Gorey and Cole Drilling Pty Ltd of Alice Springs. Sampling 3-metre composites was undertaken with 0.5-1kg samples being collected in calicos for assay (ALS, Mt Isa) and 3mm sieved samples collected in chip trays for geological analysis. A total of 133 samples were obtained. Samples were analysed on site using a Geosensor Scintillometer, the highest reading was 6.8ppm. Based on the assay results Sandstone Uranium Pty Ltd decided to surrender this tenement.