Annual report for EL 26112 King River, 18 December 2007 to 17 December 2008

Abstract

The King River Uranium Project is located in the Daly River Basin region in the Northern Territory. Historical exploration focused mainly on phosphate and diamonds. In 2007, re-interpretation and reprocessing of radiometric data delineated untested prospective anomalies within the sandstone units of the Jinduckin Formation. The area has potential to host sandstone and unconformity style uranium deposits. Exploration work by Metminco during 2008 comprised, geological reconnaissance, stream sediment sampling, rock chip sampling and a ground scintillometer survey. The exploration was focused on radiometric anomalies in the southern part of the licence. A more extensive stream sediment sampling program was originally planned; however, difficulties with accessing the proposed sample sites reduced the number of samples sites to two only. The assay data for both the stream sediment samples and rock chips are given in the attached appendices. Stream Sediment Sampling - Two stream sediment samples were collected. One sample was from a small creek in the south western part of the licence and the other from outside the licence area from a site on Limestone River. Neither of the samples were anomalous for uranium. Rock Chip Sampling - Eight rock samples were collected from exposures found during the scintillometer survey. The rocks types found include conglomerates and sandstones.