EL 29831 Calvert Hills Project Partial surrender report 4 September 2013 to 3 September 2015

Abstract

The Calvert Hills project covers a large area and situated in a remote location. Exploration is difficult since there is extensive cover masking any buried deposits. The sub-surface geology is similar to what occurs at Westmoreland Deposits (>100 km to the east), however, uranium deposition has not been confirmed at the project and the basin architecture is potentially more complex. The company has decided not to further pursue the uranium targets at the project but has retained a portion of EL 29831 to assess the Vandadium potential at the Vanadis Prospect.