EL 24929 Final report 21 August 2006 to 10 July 2013

Abstract

During the term of the Licence, Alara conducted a review of the historical exploration data and a number of field visits were undertaken for ground truthing. In November 2007, Alara commissioned GPX Survey to conduct an airborne radiometric and magnetic survey. Subsequent to geophysical interpretation, field visits were carried out to ground truth anomalies. However, no drill targets were defined. In May 2009, Alara entered into a Joint venture agreement with Thundelarra Limited. After taking control of EL 24929, Thundelarra carried out data compilation and conducted an appraisal of exploration data gathered so far. During review, potential for sand stone-hosted uranium deposits was identified. Thundelarra commenced a dedicated exploration program which included a study of Uranium Mineral System in the Ngalia Basin, led by CSIRO (Schmidt et al., 2011), high resolution AEM survey and precision helicopter-assisted gravity survey. Processing and interpretation of geophysical data identified palaeochannel systems within the Ngalia Basin and drilling within other Licences e.g EL 25334 intersected significant uranium mineralisation. However, palaeochannels identified within EL 24929 were not prospective enough for further exploration program such as drilling. Accordingly, EL 24929 was surrendered in July 2013.