Annual and final report for EL 27519, Ethel Creek to 13 July 2013

Abstract

No on-ground exploration has occurred during the reporting period. A geochemical soil sampling program and stream sediment program was reviewed for gold potential defined by historical sampling programs. This program however was deemed by contractors of insufficient size as a single program. From general logistic and cost savings efficiencies, Renaissance waited on the availability of at least 3 tenements being granted before mounting a ground based exploration programme to therefore provide a sufficient sized program to obtain a suitable contractor to carry out the programs. The CLC did not consent to access other Renaissance Uranium Exploration Licence Applications; therefore planned programs were re-assessed and subsequently cancelled. Furthermore, with the current lack of support for nuclear power and the stagnation of the uranium price, Kurilpa acknowledges obtaining funds for uranium only exploration has been difficult this year. No exploration was planned for the Ngalia basin margin area, as funding for uranium-only exploration is too difficult to justify in the current market. Strong activity for uranium exploration will be somewhat controlled by the increased price and enthusiasm for the uranium sector.