Annual report EL 28253 Moonlight, for the period 15 April 2011 to 14 April 2012

Abstract

During the 2011-12 reporting period Callabonna Uranium Limited conducted field reconnaissance and desktop research on its Moonlight project (EL 28253). The exploration tenement was found to be dominated by granites assigned as members of the Proterozoic Southwark granite. These granites produced an elevated regional radiometric response. On field inspection this radiometric response was related to slightly elevated Th concentrations (up to 180ppm). No evidence for alaskite type deposits could be found within these granites leading to a relinquishment of the northern half of the exploration license. A small area (Callisto Prospect) in the south-west of the tenement is comprised of silicified quartz gravels, weathered granite regolith and a small outcrop of mylonitic basement and hematitised gravel which returned anomalous uranium (130 ppm) and REE (total REE with Y up to 6970 ppm). This region has been retained in order to conduct further mapping and sampling for heavy mineral sands during 2012-2013.