Annual Report for the Period Ending 29 June 2010, EL 26322 (Harrison Dam)

Abstract

EL 26322 (Harrison Dam) was granted to Regalpoint Resources Limited (Regalpoint) on 30 June 2008, covering an area of 7 blocks (c. 16 km2). The project area is located approximately 32 km northeast of Batchelor and 57 km southeast of Darwin, in the Rum Jungle mineral field of the Pine Creek Inlier. The project area covers a NNW-SSE-trending anticline (referred to as Harrison Dam anticline) that is cut by a NNE-SSW-striking fault (referred to as Harrison Dam fault) with greater 5 km of lateral displacement that is subparallel to and possibly linked at depth to the regional-scale NE-SW-striking Giants Reef Fault. Much of the project area is covered by recent alluvial sediments of the Adelaide River system. Regalpoint selected the area because of its potential for uranium deposits (1) along a NNE-SSW-striking Harrison Dam fault with greater 5 km of lateral displacement that is subparallel to and possibly linked at depth to the regional-scale NE-SW-striking Giants Reef Fault, and (2) at the concealed boundary between the Coomalie Dolostone and overlying Whites Formation within the core of the Harrison Dam anticline. The immediate exploration objective is to evaluate the potential of the Harrison Dam Fault in terms of hosting an economic uranium deposit. The secondary objective is to establish the depth below surface of the highly prospective contact between the Coomalie Dolostone and overlying Whites Formation, and its uranium potential. Previous exploration did not test this concept. The project area has been previously explored for uranium mineralisation but the existing data suggest that the uranium potential of the contact between the Coomalie Dolostone and overlying Whites Formation in the central part of the project area has not been systematically tested due to the extend of recent alluvial cover. As such, Regalpoint plans to complete an alpha-track (radon gas) survey and carry out RC drilling of any radon anomalies. Regalpoint has allowed for 750m of RC drilling which is considered appropriate. Evaluation of the uranium potential of the buried contact between the Coomalie Dolostone and overlying Whites Formation in the central portion of the licence area via an alpha-track (radon gas) survey and RAB and / or RC drilling of potential radon anomalies.