Annual combined report GR199 on EL 24561, EL 25282 and EL 25334 Ngalia Project for the period ending 21 June 2015

Abstract

Exploration Licenses (EL 24561, EL 25283 and EL 25334) covering the Ngalia Group were granted to Element 92 Pty Limited on 22 June 2009, and will expire on 21 June 2015. These Licenses are located about 330 km NW of Alice Springs and 1200 km SW of Darwin. Element 92 Pty Ltd/Thundelarra Ltd are exploring these tenements for uranium and other commodities. The project area is located within the Ngalia Basin that is an east-west trending intracratonic basin, which contains a thick succession of Neoproterozoic to Ordovician shallow marine and fluvio-glacial clastic, carbonate and evaporitic rocks, overlain by Devonian and Carboniferous fluvial to continental sandstone, siltstone & shale. Geology of the project area is dominated by the presence of the Mount Eclipse Sandstone. It mainly comprises medium to coarse-grained arkosic sandstone, containing conglomerate lenses. Grey-purple hematitic sandstone is mainly confined to the base of the formation. Much of the project area is covered by Tertiary channel sand sheet, mudstone, calcrete and silcrete. Ancient palaeochannels are located within Tertiary sands which contain uranium mineralisation. During the reporting period, a technical review of available geological, geophysical, geochemical and drilling data was conducted. Moreover, a rehabilitation assessment was conducted and the rehabilitation of 26 drill collars was undertaken.