Third annual report on exploration activities over EL 26073

Abstract

Work during this term included literature searches and data base compilation. Open file company reports were obtained from the Northern Territory Geological Survey and a review of past exploration data and geological concepts undertaken. Airphoto interpretation has identified geological and structural features for ground reconnaissance. EL 26073 represents a greenfields exploration play for principally uranium deposits of varying genetic styles. The tenement is also considered to have potential to host diamond mineralisation. Past exploration has comprised heavy mineral sampling for kimberlitic indicator minerals and testing of magnetic and gravity anomalies for kimberlite pipes. Microdiamonds have been found in a portion of the area occupied by EL 26073; however Legend International Holdings (CR2008-0919) concluded they have originated from kimberlitic source rock(s) of considerable distance to the south of the tenement. The targeting was undertaken at a high level to identify areas of interest that stand out in the regional re-interpreted geophysical data. Historical prospects were reviewed to determine the effectiveness of the previous exploration and evaluate remaining potential within the Exploration Licence area. On a regional basis the Mt Hardy tenement is located in the highly prospective Dunmarra and McArthur Mineral Field. Through detail interpretation of airborne magnetic from the Northern Territory Geological Survey, magnetic and uranium anomalies were identified.