Partial relinquishment report for EL 24019 Bynoe Project

Abstract

This partial relinquishment report details all exploration work undertaken on the relinquished part of Bynoe Project Exploration Licence 24019 up until 19th 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. An elevated uranium radiometric response was recorded and a magnetic signature typical of the potential host stratigraphy nature was noted in the relinquished area was drilled. No anomalous values were found in the holes. An Airborne Electromagnetic Survey was later flown to locate conductors that may be suitable Uranium hosts. No conductors were located in the relinquished area.