Year 6 Final annual report, 25 February 2011 to 24 February 2012

Abstract

Regional uranium exploration was conducted over the Harts Range uranium tenements in 1992 and 1995 by PNC Exploration (Australia) Pty Ltd. The implementation of regional reconnaissance sampling of the area by PNC, lead to the discovery of significant uranium mineralisation, which was later followed up by an extensive regional assessment program. Harfort Nominees Pty Ltd a wholly owned subsidiary of Batavia Mining Limited acquired the Harts Range tenements in 2005. In January 25th 2006 Harfort Nominees Pty Ltd was transferred to Hale Energy Ltd. Exploration activities during 2007(Year 2) included detailed rock chip sampling, mapping and soil sampling at the Daicos, Haddock and Indiana prospects. All three prospects exhibit highly anomalous Uranium assays. The Daicos prospect also returned highly anomalous REE assays from pegmatites in the area. Reconnaissance RC drilling was planned for 2008(Year 3) on the Daicos, Haddock and Indiana prospects however delays with completing clearance work on the prospects combined with the Global Financial Crisis (GFC) of late 2008 resulted in the cancellation of drilling activities until further notice. Discussions with a prospective JV partner are in progress with a view to advancing exploration activity on the EM anomalies/conductors indentified from the recent helicopter EM survey completed on the southern side of the ranges over EL 24735. Numerous EM conductors have been identified from interpretation of the data by Montana GIS which are thought to represent base metal sulphide mineralisation associated with amphibolites etc at less than 100m vertical depth.