Final and annual report EL 9857, for the period 20 July 2011 to 19 July 2012

Abstract

EL 9857 is considered prospective for sandstone hosted uranium mineralisation being adjacent to, and containing the same host rocks as the Angela Uranium deposit. This License area was explored by Uranerz and AGIP for uranium in the period 1970 until approximately 1983. Much of the old exploration data acquired by Uranerz and AGIP has been compiled by the NTGS into a drill collar database, using the MGA94 grid system. Assay information is very sparse. Radiometric data, including down hole gamma probe information is partially available, in chart form, attached to the original paper drill logs. With the close proximity of EL 9857 to Alice Springs and to the town water supply aquifer, a low-key exploration approach was considered important until the local population supported the adjacent Angela uranium project. During the 2010 Territory by-election the Chief Minister stated no uranium mining would be allowed in the vicinity of Alice Springs. Subsequently one of the joint venture partners in the Angela project withdrew from the project. This created a substantial degree of uncertainty in the validity of uranium exploration within EL 9857. Since 1980 reports prepared by the NTGS on the evolution of the Amadeus Basin, have greatly assisted in advancing the knowledge of the Basin. The original uranium roll front exploration model, used by Uranerz and AGIP, may not be the only mineralisation style applicable within the basin. Structure and unconformity related uranium models, reacting with hydrocarbon reductants hosted by Devonian, or older sandstones, are possible valid exploration targets within the Amadeus Basin EL 9857 has several partly explored shallow uranium occurrences, with additional potential for deeper mineralisation, given the structural complexity within the Missionary sub basin. During 2010 a combined aeromagnetic and radiometric survey was completed over the tenement area. A report by the consultant Geophysicist was received in late 2010 and was attached to the Fourth Annual Report. The survey provided evidence of possible structural features that may indicate fluid pathways and located surface uranium anomalies over exposed strata. Aeolian sand and alluvium covered plains comprise the majority of the tenement area and limit the effectiveness of the radiometric survey mapping. Fund raising activities and exploration on highly prospective tenements in Africa resulted in no field work undertaken on the tenement in 2011- 2012.