First Annual report on Zeta Project

Abstract

Exploration Licence Application 26774 is situated approximately 10.2 road kilometers northwest of the Bachelor Township on the Pine Creek 1:250,000 geology sheet. The project comprises one granted Exploration Licence (EL 26774) which covers a total area of 0.07 km2. This report describes the results of literature research and target generation based on re-interpretation of magnetic/radiometric data carried out during the first year of the Licence. The Zeta Phosphate-Uranium Project is located in the Rum Jungle region of Northern Territory and predominantly covers phosphatic siltstone and brecciated rocks of the Geolsec Formation. Historical exploration from BMR delineated drill intersections which included: 11.0m at 11.9% P2O5 (Diamond Drill Hole D363) which includes 6-25% between 1.86 and 14.26, 16.8m at 6.8% P2O5 (Auger Drill Hole R66) and 44.2m at 8.8% P2O5 (Auger Drill Hole R93). During the month of July 2009, a review of re-processed and re-interpretation of magnetic and radiometric data from the Northern Territory Geological Survey Database was undertaken. The geophysical images were used in identifying exploration targets for phosphate and uranium. One second-order radiometric targets were identified which had not been previously examined by historical field programmes. The targeting was undertaken at a high level to identify areas of interest that stand out in the regional data. Historical prospects were reviewed to determine the effectiveness of the previous exploration and evaluate remaining potential.