Aileron Project EL 26347 Pine Hill Annual report for period ending 15 April 2011

Abstract

This is the third Annual Exploration Report for Pine Hill tenement EL 26374 that was granted to NuPower on 16 April 2008. There are no known mineral deposits in the area. The nearest occurrences are of copper and tin at White Yard Hill 30km to the southwest and rare earths at Mt Finnis 40km to the west. The Nolans P-U-Th-REE deposit lies 30km to the southwest. The area covered by EL 26374 was selected by NuPower Resources Limited because of the potential for secondary uranium mineralisation (derived by erosion of adjacent uraniferous basement granites and gneisses) in unconsolidated Tertiary basin sediments of the Ti-Tree Basin. There was no on-ground exploration work during Year 3. Three blocks were relinquished and the area now comprises 14 blocks covering 44.46sqkm. ELA 28475, Gilbeanie Bore, was applied for by NuPower on the 29 November 2010 to cover a prominent basement circular structure, immediately adjacent to EL 26374. Together EL's 26374 and 28475 cover a basement structure of interest to NuPower for potential rare earths mineralisation.