EL 26073 Annual technical report 2 April 2009 to 1 April 2010

Abstract

Activities 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. During the term Diamantina Uranium Pty. Ltd. also negotiated the purchase of private company exploration reports. Exploration conducted by Kratos Uranium NL in the hinterland of EL 26073 indicates the potential of this area to host economic uranium deposits. Kratos noted that many anomalies identified by aeromagnetic surveys were attributed to the 'black soil type'. The source of the radioactive nuclides was traced to spring water originating from depth and flowing through a leached oxidized zone at the base of the Corcoran Formation. Kratos concluded that radioactive spring water deposits in the region may be derived from a relatively concentrated parent uranium source at depth.