Aileron Project EL 26376 Mueller Creek Annual report for period ending 15 April 2009

Abstract

This is the first Annual Exploration Report for Mueller Creek tenement EL 26376 that was granted on 16 April 2008. The area covered by EL2 6376 was selected by NuPower Resources Limited because of the potential for secondary uranium mineralisation, derived by erosion of adjacent uraniferous basement granites and gneisses, in unconsolidated Tertiary basin sediments of the Ti-Tree Basin. During the current reporting period, NuPower sampled two water bores and conducted airborne electromagnetic and gravity surveys over parts of the tenement. The airborne electromagnetic (AEM) survey formed part of a larger survey of NuPower's tenements in the Aileron region that was designed to explore for buried palaeochannels within the Cainozoic sedimentary package as potential hosts for secondary uranium. In total 125.8 line kilometres of AEM was completed over the area that results of which, together with results from surrounding areas, indicate the Ti-Tree Basin is more extensive and better developed than previously thought. NuPower also contributed to the NTGS Central Australia Gravity Survey (CAGS) over the Central Arunta region in the Mueller Creek area to acquire higher quality data for regional basement interpretation. Results of the survey have been received and are included in this report. Water from two station stock water bores was sampled and assayed for a suite of major and trace elements the results of which are expected to assist with targeting potential sites of uranium accumulation within the palaeochannel systems.