Final report for EL 23637 Mt Baldwin for the period 11 April 2003 to 10 April 2009

Abstract

Exploration Licence 23637 was acquired from Tanami Exploration NL (TENL) under the terms of a Heads of Agreement between Deep Yellow Limited (DYL) and TENL. EL 23637 was transferred to DYL effective 2 August 2007 The Mt Baldwin tenement, EL23637, is located approximately 210km north east of Alice Springs in the Northern Arunta block of the North Australian Craton. The tenement was acquired to explore for uranium mineralisation within a north-south orientated calcrete drainage feature draining the granites and skarns adjacent to the Molyhil minesite. The tenement was acquired with a neighbouring tenement EL 23636, together forming the Huckitta project. Exploration on the tenements had been delayed pending the issue of an Aboriginal Areas Protection Authority Certificate in respect of EL 23637. When issued, in August 2008, the Authority Certificate indicated a Restricted Works Area over approximately half of the tenement area reducing the prospectivity of the project area. Given the financial climate in the second half of 2008, a decision was made to focus manpower on more prospective tenure within the Northern Territory. Exploration Licences 23636 and 23637 were due to expire in 2009 and a decision was made to not seek renewal of either licence.