Relinquishment Report EL 24281 Charley Creek Project 7 February 2005 to 6 February 2010

Abstract

This report covers exploration work carried out on the relinquished portions of EL 24281, Charley Creek project for the period 7 February 2005 to 6 February 2010. The licence is located immediately south of the Tanami road approximately 120 kms west northwest of Alice Springs and is centred about 9 km south of Milton Park homestead. The exploration licence is held by Crossland Nickel Pty Ltd and operated by Crossland Uranium Mines Limited. The project area is considered prospective for uranium, REE, copper, nickel and platinum. EL 24281 was granted on 07 February 2005 for a period of 6 years. Crossland is exploring the region with two uranium target styles in mind - as widespread, disseminated granite-hosted mineralisation and as sedimentary deposits confined to the channels of old, buried drainage systems. The Teapot Granite Complex, which outcrops extensively in the region, is a highly fractionated, enriched granitoid, with an anomalously high uranium content. The extensive area of flat plains and related drainages north of the Teapot Granite are considered ideal as a host environment to secondary concentrations of uranium leached from the granite. The uranium could be hosted in calcrete deposits or occur in 'redox' zones, which can concentrate uranium dissolved in ground water. Some potentially prospective paleochannels are present within EL 24281. Exploration activities for EL 24281 for the years 2005 to 2010 are summarised as: - 2005-2006: Literature search and data compilation, acquisition of government geological and airborne survey data and preliminary field reconnaissance, - 2006-2007: Field reconnaissance, helicopter reconnaissance, additional data compilation and literature search and negotiation of an access agreement with the Central Land Council, - 2007-2008: Airborne EM survey (TEMPEST), airborne radiometrics magnetics survey, - 2008-2010: No further work in relinquished areas.