Annual report for EL 26071 Mt Gardiner, for period ending 18 January 2010

Abstract

EL 26071 was applied for by Matilda Minerals Ltd on 23 April 2007 and granted on 18 January 2008, comprising 45 blocks covering the northern end of Reynolds Range. NuPower acquired an interest in EL 26071, Mt Gardiner, as a result of being offered a package of tenements in the Aileron region for joint venture. NuPower was attracted to the Mt Gardiner property by an airborne uranium channel radiometric anomaly associated with microgranites and schists of the Coniston Schist on the southern flank of the Reynolds Range in this area and its prospectivity for structurally hosted uranium mineralisation in retrogressively altered granites and secondary calcrete-hosted uranium derived from a primary source. Work to date has comprised a review of the available open file reports of previous exploration and compilation of the various digital geochemical data, airborne geophysical data and Landsat images. It is apparent that some useful open file geochemical data for the area has not been digitized since the information has been presented on often hand drawn base maps prepared from various sources, preceding the advent of GPS, and further compilation of data is required. Although work to date has down graded the prospectivity the existing airborne radiometric anomalies have not been adequately explored or fully explained, and a short program of reconnaissance geological mapping and geochemical sampling is proposed.