Final report on EL 25693 Deep Well

Abstract

The Deep Well tenement (EL 25693) is located about thirty kilometres northeast of Alice Springs on Bond Springs Station. It is readily accessible via the Stuart Highway and unsealed station tracks. The tenement is targeted for uranium exploration. It is situated within the Arunta Block, and is mostly underlain by biotite gneiss, with lesser occurrences of ultramfic rocks in the southeastern part and Quaternary sediments and Cainozoic laterite in the northwestern part. Field work in the 2008 reporting period focused on two of a number airborne radiometric anomalies. One is in an area of biotite gneiss and another in quaternary sediments. After preliminary investigations it was determined that neither area warranted any further followup. No field work was conducted in the 2009 reporting period due to ongoing joint venture negotiations for a farm out of this and other tenements held by Tianda Resources (Australia) Pty Ltd. The project area was briefly visited by Tianda and Terra Search geologists, together with a Chinese delegation, in October 2010, and no evidence of uranium mineralization was obtained. Because exploration work undertaken so far indicated that the tenement was not prospective for uranium, no further work was recommended and the tenement was surrendered on 25 March 2010.