Annual report for EL 25849 Black Spring, period ending 4 October 2008

Abstract

The NuPower Resources Ltd Victoria River joint venture project comprises 6 tenements, mostly in the Victoria River region of the northern part of the Northern Territory. NuPower entered into this joint venture with Jupiter Mines Limited on 19th August 2008. This annual report is concerned with the Black Spring tenement (EL25849). No prior exploration was conducted by Jupiter Mines. An initial reconnaissance visit was conducted in order to identify access routes and investigate surface radiometric anomalies within the tenement. Geological mapping and ground checking was undertaken using a hand held scintillometer. Whilst access to the tenement is relatively easy, there is little outcrop with the tenement being mantled by modern alluvium. No indications of any near surface uranium mineralisation were seen. EXPLORATION BY NUPOWER RESOURCES IN YEAR 1 - An initial reconnaissance of the tenement was conducted over 3 separate days and involved identification of access and investigation of radiometric anomalies within the tenement. This involved geological mapping and ground checking of the anomalies using a hand held scintillometer.