EL 23461 Myra Project 2001 - 2003 Annual report

Abstract

The Myra project is a uranium exploration project in northwestern Arnhem Land, which is managed and operated by Cameco Australia Pty Ltd (Cameco). In the past this project has be managed and operated jointly with the Kukalak project and comprises of EL 23461 (Myra) and EL 23462 (Kukalak). During 2001, the Northern Land Council (NLC), on the assumption that granting of the original licence applications by the Department of Business Industry and Resource Development, Mines and Energy (NTDME) would be imminent, accepted approval for reconnaissance exploration. Cameco conducted a helicopter supported exploration-sampling program during September 2001. At this time, Cameco was informed by the NTDME that granting of the licences could not be approved as the application process contained irregularities. The original exploration licence was the not granted by the NTDME due to the Attorney General's decision that the process had contravened sections of the NT Aboriginal Land Rights Act (1976) in spite of both deemed and actual consent from both NLC and the ATSIC Minister. In order for the application process to proceed, Cameco were advised to relinquish and re-apply for the licence. The relinquishment and re-application of the licence (EL 23461) was completed in December 2001 with the application process fast tracked by the NLC and NTDME. EL 23461 was granted on 25 July 2002. This report represents work completed prior to and within the actual first year of grant. The exploration activities planned for 2001 and 2002 were designed to determine the uranium potential of the project over the next several years. This was accomplished by diamond drilling on EL 23461 during 2002. Additional work to target future drill holes on the tenement consisted of outcrop sampling, preliminary mapping and airborne geophysical surveys. A helicopter was utilised to aid with personnel movement on the project area. The field based exploration activities commenced on 17 August 2002 with demobilisation on 16 October 2002. The Afmeco operated Myra Falls Camp was utilised as the base camp for exploration activities during 2002. In total 76 outcrop samples were collected from the Myra tenement area project area and 234 samples from the entire project area during 2001 to 2002. Three diamond drill holes were completed on EL23461 in the Two Rocks area with uranium mineralisation intercepted in one drill hole.