Partial relinquishment report for EL 23071 Bynoe Project

Abstract

This partial relinquishment report details all exploration work undertaken on the relinquished part of Bynoe Project Exploration Licence 23071 up until 20th July 2009. Uranex are targeting East Alligator River Uranium Field (EARUF) and/or Rum Jungle Uranium Field (RJUF) style uranium deposits. The basic uranium exploration model used assumes that the basal Sweets Member of the Welltree Metamorphics is equivalent to the Cahill Formation of the East Alligator UTS Geophysics were contracted to complete a detailed aeromagnetic and radiometric survey during the reporting period. The geophysics was further processed by Southern Geo-Sciences. The absence of uranium radiometric responses and magnetics that didn?t match the targeted stratigraphy signature was noted and no drilling was completed in this relinquished area. An Airborne Electromagnetic Survey was later flown to locate conductors that may be suitable Uranium hosts. Some weak conductors were located in the relinquished area but access was precluded due to tidal mangrove wetlands.