Annual geological report on EL 26966 for the period ended May 2010

Abstract

Tenement EL 26966 (Photo Creek) is situated in the Robinson River and Calvert Hills 1:250,000 map sheets in the McArthur Basin's Wearyan Shelf. The area experiences a sub-tropical climate with the wet season occurring from November to March every year. During this time the area can be difficult to traverse by vehicle because tracks may become flooded. The area is accessible from the Carpentaria highway, which crosses through the SW corner of the tenement. Phosphate Australia Limited pegged the tenement in late 2008 following a target analysis of the area using publicly available remotely sensed data. The ground was chosen because of its numerous Uranium channel radiometric anomalies in conjunction with potentially phosphate-bearing dolomites. The tenement was granted on 13/05/2009 and is 100% owned by Phosphate Australia Limited. Phosphate Australia has conducted an in-house review of all available open-file data pertaining to EL 26966 delineating areas of potential phosphate and uranium mineralisation prior to conducting fieldwork. A reconnaissance field mapping and geochemical sampling campaign was planned commencing early May 2010. The unusually long wet season prevented this field work being undertaken and at this stage it has been postponed. As a result, Phosphate Australia has not conducted any onground exploration activity during the reporting period.