Partial relinquishment report for period ending 3 April 2013

Abstract

EL 28287 Depot Hill East initially covered 312 Blocks, but now represents 150 Blocks following the relinquishment 162 Blocks. The tenement is located, within the Amadeus Basin, approximately 200 km south-east of Alice Springs, Northern Territory. Within the relinquished area the project was targeting major sandstone hosted uranium in areas not previously recognised or thoroughly evaluated for uranium mineralisation. Exploration within the relinquished area involved a desktop based assessment of historic data, particularly nearby seismic, looking for structural and stratigraphic traps for uranium associated with helium gas. These assessments have failed to provide any primary leads of potential helium related uranium exploration within EL 28287, particularly the lack of seismic data making this avenue of research more difficult to pursue.