Annual and final report , EL 2606 Mount Hay, for the period 14 February 2011 to 25 January 2012

Abstract

Exploration across the surrendered license consisted of a gravity survey, an airborne electromagnetic survey, water geochemistry sampling from stock bores over the Mt Hay Lease and an MMI survey (2011-2012. Geochemical assaying indicates elevated uranium and minor vanadium within aquifers interpreted as tertiary channels from the 2009 airborne AEM survey conducted over the lease. A review of Callabonna's tenement holdings in the Northern Territory, led to a decision to focus The Company's resources on other higher priority targets within the Northern Territory. As a result, a decision was made to relinquish the entire licence.