Final report on EL 25268 Lake Amadeus South East, for the period 19 January 2007 to 16 December 2008

Abstract

Exploration Licence 25268 is owned and operated by Carbon Energy Ltd. ('Carbon'). The company changed to this name from Metex Resources Ltd ('Metex') on the 23rd June 2008. The tenement forms the Lake Amadeus South East prospect (part of the 'Alice Springs' Project area), and is located approximately 300 km southwest of Alice Springs in the Northern Territory. EL 25268 was acquired following an Australia-wide generative program targeting uranium mineralisation. The tenement was granted on 19th January 2007, for a period of six years. Work by Carbon on the tenement during 2007 and 2008 included: - Open-file report and data review; - Acquisition, reprocessing and interpretation of available digital geophysics data by Southern Geoscience Consultants. - Final data evaluation. Based on the review and evaluation, prospectivity for U was considered to be very low, and the tenement was surrendered on 16/12/2008.