EL 25367 Partial relinquishment report for the period 21 February 2007 to 20 February 2010

Abstract

EL 25367 was granted to Elkedra Diamond NL in February 2007, and subsequently transferred to Uramet Minerals Limited (Uramet). Uramet is targeting calcrete-hosted uranium occurrence within the Wilora palaeo-channel, and approximately 200 km north of Alice Springs, NT. Uramet identified the potential for a calcrete-hosted uranium occurrence within the Wilora palaeo-channel located approximately 180 km north of Alice Springs, NT. Potential for stratiform copper mineralisation and sandstone-hosted lead mineralisation in the Mt Skinner area has also been recognised (Dunster et al., 2007). This report details exploration work carried out by Uramet within the Mt Skinner tenement (EL 25367) in the Northern Territory. An extensive aircore drilling program within the Wilora palaeo-channel and a minor reconnaissance drilling was undertaken in the retained portion of Mt Skinner area during September and October 2007, drilling was undertaken within the relinquished portion of the tenement targeting base metal targets. A 50% area reduction was made to the tenement in February 2010. This report details exploration work carried out by Uramet within the relinquished portion of the tenement between February 2007 and February 2010. Exploration within the relinquished portion of the tenement consisted of a data review, field reconnaissance, VTEM Survey, Gravity Survey, drilling and sampling . The prospectivity for uranium and base metals within the relinquished portion of the tenement is considered by Uramet to be low, hence the ground was surrendered.