Fourth year relinquishment report for EL 25239 Woolner for period ending 5 February 2011

Abstract

EL 25239 is roughly 30 kilometres to the east of Darwin. Territory Uranium Company Limited is primarily focussing on the potential for mineralisation associated with the Archaen Woolner Dome to the north east. The tenement underwent compulsory reduction in year 2 (180 blocks to 90 blocks), year 3 (29 blocks retained) and year 4 (12 blocks retained). Work during Year 1 and 2 of tenure consisted of a review of both NTGS data, and compilation of significant results from Industry reports. They all explored for uranium, base metals, gold, commercial clays and manganese. Work during Year 3 consisted of a review of the Airborne Electromagnetic Survey conducted by Geoscience Australia in 2008. Associated with this was an interpretation of the geophysical data, and proposed drill targets. Two project areas were identified; project area 2 was within the ground relinquished at the end of year.