Annual Report for Mount Douglas EL 25119 for the year ending 4 October 2010

Abstract

On the 3 January 2010, Element 92 Pty Ltd entered into an Option Agreement with the Teelow-Orridge-Clarke syndicate to acquire 100% equity in the tenement. During the current reporting period a desk top GIS review and data compilation commenced using information from open file reports to identify uranium, tin, gold and base metal exploration targets for the 2010/2011 field season. In September 2010 a detailed airborne radiometric and magnetic survey was flown over the tenement as part of a far larger survey. EL 25119 is located about 140 km south-east of Darwin and some 60 km north-east of the Pine Creek township in the Mt Masson area. The project area is prospective for gold, base metals and uranium mineralisation. The tenement was granted to Orridge (33.40%), Clarke (33.30%) and Teelow (33.30%) on 4 October 2006 for a period of 6 years and will expire on 3 October 2012. It comprises 27 sub-blocks covering 90.24 km2. EL 25119 is located within the Pine Creek Orogen, which has been interpreted as an intracratonic basin lying on an Archaean basement, and containing a 14 km thick sequence of Proterozoic sediments, accompanied by lesser volcanics, granitic plutons and dolerite intrusions. During Top End Orogeny, the sequence was deformed and metamorphosed into NW-trending folded structures, which plunge gently toward south-east. Folding and faulting during Orogeny have created zones of dilations which are important structures for hosting a variety of mineralisation. The exploration program for the 2011/2012 period season will include the completion of the review of all relevant past exploration activities, the digital capture of all pertinent data, the interpretation of the recently acquired geophysical data, regional and prospect mapping, field assessment of all targets of interest and drilling if warranted.