Annual report for the year ending 8 June 2011, EL 27702 Woolner Project

Abstract

This report details the exploration activities carried out over EL 27702, the Woolner Project in the Northern Territory, during the period 8 June 2010 to 7 June 2011. On 17 February 2011 Eclipse Uranium Limited acquired the Woolner Project upon its successful listing with the ASX. Since this date the company has focused predominantly on collecting background data for the project which includes open file reports, geophysical and geological data from the Northern Territory Geological Survey. This data has been used for project review and target generation. A field trip to the project area was planned with the purposed of understanding the logistical requirements of exploration on the project, geological mapping and sampling, where appropriate, and meeting the landowners to establish good working relations. Due to unseasonable weather and heavy rainfall affecting access to the tenement this trip was not completed until the end of June. First pass geological review indicates that the Woolner Project may be highly prospective for uranium and other metals associated with the granite dome features seen in the tenement. This style of mineralisation may be analogous to Rum Jungle.