Tenement summary report for the period 23 January 2010 to 23 January 2011 for EL 27437

Abstract

A desktop study was undertaken on the Victoria River project area. This report contains a brief summary of the geology and previous exploration on the project area. The aim of this report is to further refine the understanding of any potential mineralisation within the tenements. The primary reason for selecting the Victoria River tenements was their close proximity to known manganese occurrences (Battle Creek 1 and Battle Creek 2). These occurrences are reported to contain rock chip samples of 8.9% Mn (Battle Creek 1) and nodules as high as 55% Mn (Battle Creek 2). To expand on the previous desktop study an assessment of the freely available geospatial and geochemical data was undertaken. This information plus the previous desktop study as well as the results of current explorers surrounding USI's tenements allowed for the initial assessment of potential mineralisation types in the region. Thus the most prospective areas have been identified. Further to this study, to properly assess the Victoria River project area a field visit (Phase 2) is required.