Relinquishment report year 2 for EL 25239 for the period ending 5 February 2009

Abstract

EL 25239 is roughly 30 kilometres to the east of Darwin. Territory Uranium Company Limited is primarily focussing on the potential for mineralisation associated with the Archaen Woolner Dome to the north east. Work during Year 1 and 2 of tenure consisted of a review of both NTGS data, and compilation of significant results from Industry reports. Exploration companies that have worked within the Licence area over the past 37 years included Urangeschellschaft, Mobil, CRA, BHP, Normandy and MInatome. They all explored for uranium, base metals, gold, commercial clays and manganese. At the end of year 2 the tenement was reduced from 180 blocks to 90 for compulsory tenement reduction. This report details work completed by TUC on the relinquished blocks. During 2008 Territory Uranium completed a data analysis of the work collated during the first year of the tenement. This analysis work highlighted areas which were proposed to be drilled in November 2008. Territory Uranium had originally planned to complete 2,400m of RAB/AC drilling in these areas. Unfortunately due to the companies other exploration commitments (primarily work in Daly and Calvert River Regions) the drilling program had to be postponed until midlate 2009. From the data analysis work completed a determination on halving the tenement was completed. The tenement was officially halved as per the Departments guidelines. No specific work was undertaken on the relinquished blocks.