Annual and final report EL 26138 Murphy project

Abstract

EL 26138 was part of a group of twelve (12) tenements comprising the Murphy Project in the northeastern part of the Northern Territory. Bondi Mining Limited is conducting exploration for unconformity and sedimentary hosted uranium mineralisation, analogous to the unconformity deposits of the East Alligator River Region (e.g. Jabiluka) of the Northern Territory, and the Westmoreland deposit in northwestern Queensland respectively. Exploration during the 2011-2012 field season comprised a ground Transient Electromagnetic (TEM) survey in February 2012 over the Goblin target within EL 26138, which was designed to detect conductive sulphides in an IOCG-U style deposit associated with a magnetic mafic intrusive. This data has been processed, modelled and an interpretation of the data was completed by Dr. John Coggon of Mines Geophysical Services in March 2012. No significant conductor associated with uranium or basemetal sulphides was detected by the TEM survey and the strong magnetic anomaly is most likely associated with a mafic feeder dyke of Cambrian age, although only drilling can prove this. No further exploration is recommended and the tenement was surrendered on 14th December 2012.