Final report Drilling Program Headwaters Project EL 25220

Abstract

Uranium Equities believes the region has the potential for significant near surface Westmoreland-style uranium and primary gold - platinum - palladium - uranium mineralisation associated with brecciation, faulting and silica/clay alteration zones at shallow depths within the McArthur Basin sediments. Uranium Equities made an application for NT Government collaboration cofunding as part of the 'Bringing Forward Discovery' Initiative and was awarded a grant of $100,000 to assist with direct drilling costs. Successful testing of this exploration target could generate new opportunities throughout the McArthur Basin for Westmoreland-style mineralisation and contribute to the geological understanding of an underexplored region. Uranium Equities completed a diamond drilling program consisting of three diamond drillholes totaling 608.2m in order to test its Westmoreland-style mineralisation concept during September to October 2010.