Annual and final report on EL 25478 for the period 26 June 2010 to 25 June 2011

Abstract

EL 25478 is is located about 175 km SE of Darwin and approximately 30 km NE of Pine Creek. EL 25478 was granted to Atom Energy Limited on 26 June 2007 for a period of 6. It has two graticluar blocks with an area of 6.67 km. Element 92 Pty Limited acquired this EL from Atom Energy Limited/Excelsior Gold Limited to explore for uranium, gold and base metals. It is being managed by Thundelarra Exploration Limited under Atom JV. This is the annual and final report on the project area. Most of the tenement is covered by granitic rocks. Palaeoproterozoic metasediments of the Mundogie Sandstone and Wildman Siltstone crop out on the south-eastern corner of the tenement. The porphyritic Allamber Springs Granite, which covers the north-western part, displays a strong radiometric signature. The metasediments, to the south-east, are folded within a north-easterly overturned anticline with a south-easterly plunge. The ferruginised metasediments which crop out on the south-eastern corner area are strongly magnetic. They consist of carbonaceous phyllite, slate, siltstone, sandy siltstone with minor laminated medium to coarse grey quartzite. This unit is considered prospective for uranium, gold and base metals. During the tenure of EL 25478. an in-depth review of historical exploration data along with interpretation of geophysical data were undertaken. This activity was complimented by a number of field visits for ground-truthing. During this program, on-ground radiometric survey was also conducted. Although geological setting of the project area was suitable for uranium, gold and base metal mineralisation but appraisal of data and field visits did identify any significant anomaly which could be further explored. As a result of that EL 25478 was surrendered.