Annual and final report 2015 Central Mount Tenement EL 25694 23 August 2007 to 29 June 2015

Abstract

This report details the work completed during the 8 year tenure of EL 25694, 23 Aug 2007 to 29 Jun 2015, during which, Terra Search Pty Ltd were contracted to complete exploration on the tenement. The geology in this area is dominated by 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 a potential source for uranium. Fieldwork by Terra Search staff for Tianda Uranium Australia (Tianda) identified magnetic anomalies and anomalous concentrations of uranium (to 299 ppm) in ironstone outcrops. Follow up reverse circulation drilling did not return any economic uranium results in a 12 hole drill program. Further Uranium exploration in the area was planned to concentrate on the drainage in the north and east of the tenement which provides potential for further drilling to locate uranium accumulation. In the final year of tenure an airborne EM survey to identify the most prospective zones was discussed along with a review of the proposed drilling plan. Including a review of previous work completed in the tenement area historically and by Terra Search. Tianda had negotiations with potential JV partners to share the cost of the drilling. Unfortunately an agreement could not be reached and Tianda have decided to relinquish this tenement focusing their resources in another area.