Combined annual and final report for EL 23923, EL 23924 and EL 23991 Reynolds Range Project 1 June 2004 to 4 July 2011

Abstract

Deep Yellow Limited's Reynolds Range (EL 23923, EL 23924, EL 23991) project is located approximately 200 kilometres northwest of the Alice Springs township on the Mount Peake and Napperby 1:250,000 geological and topographic sheets. The Exploration Licences were granted over areas of 372, 458 and 35 blocks respectively to Tanami Exploration NL on 1 June 2004. Pursuant to an agreement between Deep Yellow Limited and TENL, dated 28 June 2005, DYL acquired a 100% interest in the tenements. Transfers reflecting the change in ownership were registered effective 5 December 2006 in respect of EL 23991 and 2 August 2007 in respect of EL 23923 and EL 23924. Following exploration programmes which failed to identify significant uranium mineralisation DYL decided to surrender the tenements at the end of their 7th year of term. As no on-ground work was conducted during the year of term ended 31 May 2011, this report is a combined nil annual report and final report in respect of EL 23923, EL 23924 and EL 23991. Access to the southern end of the tenements from Alice Springs is via the Stuart Highway to 15 km north of Aileron, then west via the unsealed road through Pine Hill Station and along the north side of Reynolds Range to Coniston Station. A network of station tracks and fence lines provides access within the tenements. This report describes the work undertaken across the tenements since the grant date. This work included: A review of open file exploration data; reconnaissance field trips; an Airborne Electromagnetic (AEM) Survey for 865 line kilometres flown at 1.5 km spacing; a Night Time Thermal Infared (NTTI) data interpretation; 57 aircore holes for 1677 m; and rehabilitation.