Annual and final report for the period 2 September 2008 to 1 September 2010

Abstract

Exploration License (EL) 24936, Stevens North Project, is a uranium exploration project located in western Arnhem Land, operated and managed by Cameco Australia Pty Ltd. EL 24936, consisting of 5 blocks for an area of 15.5 km2, was granted on the 2nd September 2008. The license was surrendered on 17th August 2010. Exploration for unconformity style uranium deposits during the period of tenure consisted of outcrop sampling to determine the uranium mineralising potential of the license. The best result from the outcrop sampling was returned from sample C010692 of Mamadawerre Sandstone with 9.22 ppm U3O8. Sampling of the Nimbuwah Complex granites was returned a best result from sample SN080402 of 7.42 ppm U3O8. The results from the sampling are not considered to be above the expected background values for the respective lithologies and no further work is warranted for the area.