Final surrender report for EL 25071 Banka Creek for the period ending 20 July 2009.

Abstract

EL 25071 is 750km SE of Darwin, and 150km NNE of Tennant Creek and some 80km east of the Stuart Highway. Territory Uranium Company Pty Ltd applied for EL25071 to explore for U mineralisation. Work during Year 1 of tenure consisted of a review of both NTGS data, and compilation of significant results from Industry reports. Most of the data provided in previous annual reports was found in the Diamond Indicator Mineral Database provided by the Northern Territory Geological Survey. Previous U exploration within the Licence is non existent. Most of the previous exploration focussed on diamond exploration. During Year 2, field geochemistry and reconnaissance exploration was undertaken on adjacent tenements (EL25082 and EL25060) but access was only attained to the northern and western edges of EL25071 due to the condition and lack of accessible tracks. Second year tenement reduction was completed with half of the blocks dropped (250 blocks). Ground along the Anthony Lagoons stratigraphy and radiometric anomalies was retained. Unfortunately due to commitments on other tenements Territory Uranium was unable to complete any work on EL 25071 during the third year of the tenement. Due to these commitments Territory Uranium has decided to relinquish the remainder of the EL 25071 (250 blocks) at the end of the third year.