Annual technical report 10 March 2009 to 9 March 2010 EL 26200 and EL 26202

Abstract

EL 26200 and EL 26202, held by Frontier Uranium Pty. Ltd., comprise part of the Northern Tanami Project that also includes ELA 26199 and ELA 26201. The relatively underexplored area encompassed by the tenements is considered to have potential to host uranium, Noril'sk-style Ni-Cu-PGE sulphides, diamonds and gold. EL 26200 and EL 26202 are situated immediately north of the known gold deposits of the Tanami Region and could potentially contain an extension of this auriferous mineralisation. Open file company reports were obtained from the Northern Territory Geological Survey and a review of past exploration data and geological concepts undertaken. Airphoto interpretation has identified geological and structural features for ground reconnaissance. Resource and Exploration Mapping Pty. Limited (REM) has been engaged to enter all data sets into GIS (MapInfo) format for exploration analyses. Geophysical Consulting Services has been engaged to identify 'blind' intrusives and structures such as faults and fractures that may host mineralisation. The Lower Cambrian Antrim Plateau Volcanics within EL 26200 and EL 26202 are considered prospective for Noril'sk-style Ni-Cu-PGE sulphide deposits and for diamonds. EL 26200 and EL 26202 cover an area prospective for uranium mineralisation as they contain a variety of igneous source rocks juxtaposed with potential host sedimentary sequences. The tenements contain Palaeoproterozoic (Orosirian) granites and Palaeoproterozoic (Orosirian) felsic volcanics (Winnecke Granophyre) associated with sedimentary rocks of the Birrindudu Group (Palaeoproterozoic, Stratherian; sandstone, conglomerate, greywacke) and Ware Group (Palaeoproterozoic, Orosirian; sandstone, volcanoclastic sandstone). AusQuest Limited (Meakins 2004, CR2004-0662) selected an area, now partially encompassed by EL 26200 and EL 26202, on the basis of 'striking geological, geochemical, and geophysical analogies between the Cambrian Antrim continental flood basalts of northwest Australia and host rocks to the world's largest concentrations of magmatic Ni-Cu-PGE sulphides at Noril'sk in Russia.' AusQuest and BHP Billiton have explored the area for potential feeder structures for the Ni-Cu-PGE depleted Antrim basalt pile. The depleted base metal component of the basalts could have potentially trapped sulphide cumulates in flow-through style feeder systems, similar to proposed models for the rich Noril'sk Ni-Cu-PGE deposits in Siberia. AusQuest Limited, singularly and under farm-in joint ventures with both BHP Billiton and Rio Tinto Exploration Pty. Ltd., also considered the region prospective for diamonds. Exploration comprised heavy mineral and magnetic/gravity testing of a number of magnetic 'holes' identified in the flat lying basalts that were modelled as possible post-Middle Cambrian Kimberlite pipes. The diamond exploration program didn't encountered any kimberlitic rocks or indicator minerals. To date no Ni-Cu-PGE mineralisation, kimberlitic rocks or indicator minerals have been located. {the company was unable to supply any data}