Annual report for EL 26114 for the period 2 April 2008 to 1 April 2009

Abstract

EL 26114, held by Diamantina Uranium Pty. Ltd., comprises part of an uranium exploration Project that also includes EL 26072, EL 26073, EL 26115, ELA 26099 and ELA 26113. The area encompassed by EL 26114 is situated in the McArthur Basin and is considered to have potential to host uranium, diamond and Ni-Cu-PGE sulphide mineralisation. This Technical Report covers work conducted on Exploration Licence 26114 during 2nd April 2008 1st April 2009. Principal commodities sought are uranium and diamonds. Past exploration has comprised heavy mineral sampling for kimberlitic indicator minerals and testing of magnetic and gravity anomalies for kimberlite pipes. However no kimberlitic rocks or indicator minerals have yet been located. The Cambrian flood basalts in the south-west corner EL 26114 are considered prospective for Noril?sk-style Ni-Cu-PGE sulphide deposits and diamonds. 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.