Second annual report for EL 25735 Old Mount Peake Project, 22 October 2008 to 21 October 2009

Abstract

EL 25735 was granted to Jarra Resources Ltd on behalf of Aurium Resources Ltd (AGU) on 22nd October 2007. The EL consists of 316 sub-blocks of approximately 1010.00 square kilometres. Aurium Resources Limited is the operator of the licence. The lease is considered to have very good exploration potential due to the following: The geological setting is a suitable host to uranium and base metal mineralization being at the centre of the Arunta Region; Aeromagnetic data show a complex terrain with several major structural boundaries and many significant structures; The tenement geophysics show good radiometric responses, indicating a good likelihood of uranium being present; Previous exploration geochemistry emphasizes the occurrence of anomalous gold, base metals, uranium, molybdenum and tungsten. Exploration work conducted to date on the Old Mount Peake Project includes: Airborne Geophysics Survey by GPX; Geological Mapping Data compilation; and Interpretation of Airborne geophysical anomalies. Magnetics (TMI) indicate scattered and strong responses in the central and southern part of the tenement, particularly in the upland areas. Radiometric data show a stronger response in the central and eastern parts of the tenement (near Ti-Tree and Mt Rennie Prospects) and dominantly have a northeast trend. The NTGS public airborne geophysical data show that there are anomalies and trends present, although the data is at 400m spacing. The recent GPX survey produced a clearer and better defined result than seen before. These data are still being evaluated to define target areas.