Partial relinquishment report EL 9857 to 19 July 2010

Abstract

EL 9857 was granted to Ivanplats Syerston Pty Ltd on 20 July 2007 and transferred to Ivanplats Uranium Pty Ltd in 2009. The tenement is considered prospective for sandstone hosted uranium mineralisation being adjacent to, and containing, the same host rocks as the Angela Uranium deposit. The relinquished area was explored by Uranerz and AGIP for uranium, in the period 1970 until approximately 1983. Much of the old exploration data acquired by Uranerz and AGIP has been compiled by the NTGS into a drill collar database, using the MGA94 grid system. Assay information is very sparse. Radiometric data, including down hole gamma probe information is partially available, in chart form, attached to the original paper drill logs. With the close proximity of EL 9857 to Alice Springs and to the town water supply aquifer, a low-key exploration approach was considered important until the local population supported the adjacent Angela uranium project. Since 1980 reports prepared by the NTGS on the evolution of the Amadeus Basin, have greatly assisted in advancing the knowledge of the Basin. The original uranium roll front exploration model, used by Uranerz and AGIP, may not be the only mineralisation style applicable within the basin. Structure and unconformity related uranium models, inter-acting with hydrocarbon reductants hosted by Devonian, or older sandstones, are possible valid exploration targets within the Amadeus Basin. No known uranium occurrences exist within the area relinquished, however there is potential for mineralisation, given the structural complexity within this northern section of the Basin. During the year a combined aeromagnetic and radiometric survey was completed over the tenement area. This survey provided evidence of possible structural features that may indicate fluid pathways. The survey also located surface uranium anomalies over exposed strata. Aeolian sand and alluvium covered plains comprise the majority of the tenement area and limit the effectiveness of the radiometric survey mapping. No field work was conducted within the relinquished blocks.