Surrender report for EL 25210 'East Tanami' for the period 27 October 2006 to 19 February 2009

Abstract

A review of available literature supplied from the Northern Territory Geological Survey was undertaken. This work focused on the basal Carpentarian Gardiner Sandstone Formation and its unconformity with the underlying Coomarie Granite Dome as a potential locus for uranium mineralisation. Given the above discussed characteristics of Proterozoic bedrock hosted uranium mineralisation, it was apparent that this is likely to be hydrothermal in nature and associated with a silicate - sulfide alteration halo of indeterminate size developed at or near this contact, and, probably with a clear structural control. Accordingly, Oklo Uranium Limited (OKLO) ordered high resolution ALOS (DAICHI's Advanced Land Observing Satellite launched on January 26th 2006) imagery covering the license area. This imagery utilizes three remote sensing instruments: - PRISM Panchromatic Remote Sensing Instrument for Stereo Mapping - AVNIR - 2 Advanced Visible and Near Infra Red Radiometer - Type 2 - PALSAR Phased Array type L band Synthetic Aperture Radar. Oklo procured both the PRISM and AVNIR - 2 Imagery from GEOIMAGE Limited, Perth, Western Australia. In addition, Oklo ordered the LANDSAT TM - ASTER Imagery covering the license area. This imagery which views in the SWIRE (Short Wave Infra Red) end of the visual spectrum is ideal for acquiring spectral signatures for certain type of hydrothermal alteration and their weathered by products such as iron oxides and clay minerals. Further to the foregoing, Oklo contracted the services of specialist Remote Sensing & Photo-geological Consultants Nick Lockett & Associates to undertake a geologic interpretation of this satellite imagery at a scale of 1:25,000 with a view to identifying combined structural - lithological and hydrothermal alteration targets. In light of the perceived difficulty in recapitalization, extreme access difficulties and lack of clearly defined exploration targets that may be associated with unconformity-related uranium (or any form of uranium) it was concluded in the previous annual report that no further work is undertaken on this tenement. The entire extent of the tenement was therefore surrendered, affective date 19th February 2009.