Annual report on EL 25556 Waite Bore for the period 23 August 2010 to 22 August 2011

Abstract

Project area is situated within the Ngalia Basin which is an east-west trending intracratonic basin. It contains a thick succession of Neoproterozoic to Ordovician shallow marine and fluvio-glacial clastic, carbonate and evaporitic rocks, overlain by Devonian and Carboniferous fluvial to continental sandstone, siltstone and shale. Geology of the project area is dominated by the Mount Eclipse Sandstone which is medium to coarse-grained arkosic sandstone, containing conglomerate lenses. Sandstones may be broadly divided into three types. Coarse-grained, poorly bedded sandstone is predominant and is interbeded with medium-grained, well-bedded along with quartz pebbles in places. Grey-purple hematitic sandstone is mainly confined to the base of the formation. During the reporting period, Thundelarra Exploration Ltd/Element 92 Pty Ltd participated in collaborative study of the Ngalia Basin covering the project area in order to understand basin architecture, utilising high resolution geophysics, geochemistry, sedimentology, mineralogy and petrology. In additon, the project area was flown by geophysical survey (TEMPEST). Data have already been delivered to NT geological Survey. However, no processing and interpretation results are available from the project area as yet. A number of field visits were also undertaken for ground-truthing. In the next reporting period, all data will be interpreted, integrated and plausible model will be developed to guide drilling campaign in 2011-12. It is expected that drilling campaign will commence in the project area along with assaying of samples retrieved. In addition, subsurface geological map of the project area will be prepared in order to work out stratigraphic horizons for uranium mineralisation.