Annual Report EL 24694 Murphy Project NT 2011

Abstract

This annual report describes the work carried out on EL 24694 to the 27th February 2011. EL 24694, which is located in the Southern McArthur Basin, on the northern edge of the Murphy Inlier, Northern Territory, is held by Murphy Uranium Pty Ltd; a wholly owned subsidiary of Bondi Mining Ltd. This exploration license was acquired because it is considered to have good potential for hosting unconformity type uranium deposits, similar to those located in the Alligator Rivers Uranium Field at the northern end of the McArthur Basin and sandstone hosted uranium mineralisation, similar to the Westmoreland deposit located to the east in Queensland. Concealed southern extensions of the highly prospective Emu Fault Zone are also interpreted to transect the area. Bondi Mining has been carrying exploration on this tenement since acquiring the licence from Buffalo Gold in 2007. This work has included geological and geophysical interpretations with targeting, alpha track sampling over major faults zones, ionic leach soil sampling, closed spaced RAB drilling over alpha track anomalies and regional RAB drilling targeting phosphate deposits in the covering Georgina Basin limestones. In 2009 several RC holes were drilled on anomalous uranium in soils. Exploration during the 2010 field season comprised an Airborne EM survey in September 2010 which covered the western edge of EL 24694. This data has been processed and preliminary modelling and interpretation of the data was completed. Further interpretation and modelling of the data was conducted during January and February 2011.