Annual report on exploration activities, Wiso Project, for period 21 September 2009 to 20 September 2010

Abstract

Exploration activities during the reporting period consisted of a follow up reconnaissance / prospecting program (surface sampling, prospecting, CPS and XRF readings) in areas of very weakly elevated gold and uranium identified from previous exploration programs, plus prospecting of gossanous rocks in the vicinity of the anomalies. There were no significant uranium or gold results from the surface sampling or XRF survey and no significant readings from the scintillometer survey, however the XRF and surface sampling returned sporadic weakly elevated Cu (up to 187ppm) and Ni (up to 266ppm) values associated with the exposed flood basalts of the Antrim Plateau Volcanics. Exploration conducted by United Uranium has downgraded the prospectivity of the previously defined radiometric anomalies, however the work has defined sporadic zones of weakly elevated copper and nickel. These zones may represent surface enrichment of the underlying flood basalt or may be indicative of a potential primary source of mineralisation. Work completed to date has only tested the lateritic and subcrop areas, with no surface assessment of the covered areas, which may warrant further exploration work.