Annual and final report EL 26040 Mount Doreen, for the period 14 February 2011 to 13 February 2012

Abstract

Callabonna Uranium Ltd was granted EL 26040 on the 14 February 2008 for a period of 5 years. Multiple attempts to carry out field work during this period were disrupted by high rainfall. The lease has been reduced in accordance with relinquishment requirements and was 100% surrendered as of the 25 January 2012. A single rock chip sample DEN011 was collected from the ore dumps proximal to the main historic shaft at Wolfram Hill and was assayed for a broad suite of elements. The sampled returned very high copper (15.1%) with minor gold (0.185 ppm) and silver (45 ppm) but was not followed up during the remainder of Callabonna Uranium Ltd's exploration tenure. Further fieldwork was conducted in the second year (2009-2010) of tenure in order to ground test regional radiometric anomalies across modern drainage channels using handheld scintillometers and spectrometers. The lack of any attenuated uranium anomalies on the exploration lease coupled with a re-prioritization of the company's exploration targets during year 3 of tenure led to a drastic scaling down of operations on this lease.