Reduction report Year 7 (Non-Compulsory) EL 25229 Douglas River for period ending 8 November 2013 Daly River Project

Abstract

Spectrum Rare Earths Limited (Spectrum) has primarily been exploring for uranium and rare earth elements on this licence. Seventh year reduction was undertaken with 23 blocks kept and 33 blocks dropped. This report details exploration carried out by Spectrum on the year 7 relinquished ground for the duration that it was held. Work during Year 1 of tenure consisted of a review of both NTGS data, compilation of significant results from Industry reports and geophysical data review. During Year 2 and 3, no work was done on the relinquished ground. In Year 4, 6 soil samples were collected at the Spectre Uranium Prospect, with the highest result of 39ppm U. These samples were taken to target an isolated airborne radiometric anomaly with proximity to an interpreted major north-east trending transform fault structure. No significant assays were returned and the anomaly was thought to be associated with minor hot spring activity focusing radioactive elements in calcrete on top of limestone. No further work was undertaken. During Year 5, no work was done on the relinquished ground. In Year 6, 4 soil samples were taken from the relinquished ground. These samples were taken to follow up on radiometric anomalies over interpreted or NTGS mapped Granitic subcrop. These areas were targeted on a weathered crust elution over granite model for Heavy Rare Earths. Although some of the results are elevated in Total Rare Earth Oxide the heavy rare earth distributions are considered relatively low. As a result of this fact and the relatively limited size of the targets no further work was undertaken or planned. No work was done on the relinquished ground in Year 7.