EL 25694 Central Mount Tenement Annual report 20 August 2011 to 19 August 2012

Abstract

During this period, clean-up and rehabilitation of the Bragg Prospect was completed by Terra Search Pty Ltd in the wake of the 2011 drilling programme. Resultant assays of the Bragg Prospect drilling programme failed to identify economic Uranium. Future Uranium exploration in the area will concentrate on the drainage in the north and east of the tenement which provides potential for further drilling to locate uranium accumulation. The geology in this area is dominated by a granitic gneiss, possessing biotite-rich bands that are variously elevated in uranium. The geology and geomorphology possess potential for paleochannel uranium deposits with the granites and granitic gneiss as potential source for uranium. An airborne EM survey to identify the most prospective zones has been proposed and the benefits of such a programme are currently in the process of being assessed.