Second year reduction report for EL 25223 Giant Ant Creek for period ending 23 November 2008

Abstract

Territory Uranium Company Ltd is exploring for uranium, and applied for EL 25223 to explore for U mineralisation. Work during Year 1 of tenure consisted of a review of both NTGS data, compilation of significant results from Industry reports and geophysical data review. Work during Year 2 included a full assessment of uranium targets within 3 Daly River Project tenements EL 25222, EL 25223 and EL 25229 followed by a helicopter reconnaissance program. At the end of Year 2, EL 25223 was reduced by 125 blocks, targets identified in this review were retained hence no field work was undertaken within the relinquished ground. This report details the work done on the blocks of EL 25223 relinquished in the second year. An airborne radiometric and magnetic survey was completed (7,116 line km) on ELs 25222 and 25223. A small region of this survey cover the relinquished ground of EL 25223.