Second annual report for EL 25528, Mount Bundy NT, for the period ended 5 July 2009

Abstract

EL 25528 is located 100km by road southeast of Darwin, along the Arnhem Highway near Mount Bundy. During the second year of tenure 12 RAB holes were drilled for 385m. Best assay results included 2m @ 1260ppm Pb in hole MBRA018 and 3m @ 2610ppm Zn in hole MBRA017. No anomalous uranium was detected using hand held scintillometer, therefore no uranium assays were conducted at the laboratory. Heli-VTEM EM survey was flown at 200m line spacing for 11 line km by Geotech Airborne. A TEMPEST EM survey flown by Fugro Airborne in conjunction with Geoscience Australia was flown at 333m line spacing in an E-W direction for approximately 90 line km. Expenditure was $62 160 against a covenant of $33 000 dollars. The VTEM survey was flown in May and processed data was not received until early July. Processed TEMPEST data was also not received until July therefore no targets could be identified and followed up during the second year of tenure. This will be done in year 3.