Annual report for the period 29 July 2010 to 28 July 2011

Abstract

EL 27745 is located approximately 700 kilometres south of Darwin, Northern Territory and 500 kilometres south west of Katherine. Due to the remoteness of the licence, exploration activities will likely require helicopter support. By road, the tenement can be reached from Darwin along the Stuart Highway to Katherine and then to Willeroo along the Victoria Highway. From Willeroo, the Delamere Road and Buntine Highway provide access to Inverway Station. The tenement is situated approximately eighty kilometres south of the Inverway Station. Roads and tracks in the region are few and paucity of landmarks makes navigation difficult. During the wet season, roads and tracks may become treacherous due to flooding. This report contains collation of exploration activities over EL 27745 for the year ending 28 July, 2011, the first year of the tenure for the licence. After acquiring the tenement, Quantum Resources initiated the process of evaluating the mineral potential, of EL 27745 by examining the publically available geophysical data and historic exploration reports. The prime objective of the project is to discover economic uranium mineralisation; however, the project area will also be evaluated for precious metals. Previously, significant higher than back ground uranium levels were recorded from the neighbouring tenement EL 25010 during the RadonX cup survey.