EL 28167 Mollie Bluff Annual technical report 18 February 2011 to 17 February 2012

Abstract

Work conducted by Intercept Minerals Ltd during 2011 comprised: A compilation and full review of all geophysical data over EL 28167, and extrapolation of data from Mt Skinner tenements; data/literature review of uranium occurrences with similarities to Adnera; a thorough review of all exploration activities and the resultant data; exploration planning, and evaluation of exploration methods; and statutory reporting. The potential for significant uranium mineralisation associated with alaskite bodies in the whole Mt Skinner Project area remains untested and a program of vertical RAB drilling is proposed, attempting to trace the extent of the alaskite occurrences and to examine the uranium content while doing this drilling program. Part of this drilling program will be conducted within EL 28167 this year. Areas where encouraging uranium is encountered will require follow up with more substantial drilling equipment.