Annual report EL 10223 Cornelius 22 May 2011 to 21 May 2012

Abstract

DYL's target within EL 10223 is calcrete-hosted uranium mineralisation occurring as a sinuous sheet like body at 5 to 20 metres below surface within paleodrainage now represented by chains of playa lakes. Tributary channels of the main drainage may also be targeted. During the reporting period DYL carried out a reconnaissance field trip which included a ground radiometric survey and collection and assay of two soil samples. The ground radiometric survey was designed to further delineate a low level radiometric anomaly identified in regional data trending east-west over an area of approximately 2.5km x 8km associated with current/palaeo drainage patterns. The survey was carried with an RS125 Super Spectrometer on 500m line spacings totalling 22.55 line kilometres. The best anomalism is located over a saline claypan lying adjacent to the most westerly gridline. The anomalism comprises an area some hundreds of metres long by 80 metres wide; being continuously >2x background (BG). Two hotspots of 7x BG were sampled for chemical analysis. Ground inspection confirms that EL 10223 has potential to host significant paleodrainage uranium mineralisation. Although the true extent of anomalism is masked by sand cover; broad areas of >1.5 x BG can be detected from surface. A 60cm test pit showed that the uranium is not just skin deep. Furthermore the positive disequilibrium, if widespread, implies much higher grade than radiometrics would suggest. Disequilibrium also means that drill sample analysis would need to be chemically rather than radiometrically based; at least initially. The prospect is ideally suited to first pass low pressure aircore or even power auger drill assessment. Initial drilling would need to address both shallow and potentially deeper palaeodrainage targets.