Annual report on EL 26924 Yeuralba, for the first year of exploration ending 7 October 2009

Abstract

During the first year of exploration Outback Metals examined the previous exploration reports in more detail and carried out interpretation and modelling of the existing airborne geophysical data. This work indicated that the EL has potential for: Unconformity related uranium mineralisation in the Tollis Formation at the contact with the Kombolgie Formation; Gold, PGM, uranium and base metal mineralisation similar to Coronation Hill style in acid volcanics of the Tollis Formation; and Gold, base metal and perhaps uranium mineralisation associated with ENE trending concealed mafic intrusions. The potential exploration models in the first instance should in the first instance be investigated by a detailed airborne radiometric survey with maximum 100m, preferably 75m flight line spacing. Following detailed geophysical interpretation and modelling the anomalies arising should be investigated by first pass helicopter assisted ground traverses.