Annual report on EL 24557 Mount Thomas Project covering the period 7 December 2005 to 6 December 2006

Abstract

The Mount Thomas project is located 20 km north-northeast of the Daly River settlement and 125 km southsouthwest of Darwin in the Northern Territory. Previous uranium exploration has targeted the unconformity between the Middle and Lower Proterozoic at the western end of the Pine Creek Geosyncline. This work, principally by Mobil Energy and Total Mining, successfully discovered primary uranium mineralisation similar to the Alligator River Uranium Field but generally exhibiting modest grades (<1000ppm) and narrow thicknesses. Two uranium prospects have been identified on Aldershot's tenement, the March Fly and Hayward Creek prospects. The current project area covers 20 blocks and 66.76km² and was explored since the 1970's for uranium. This report details exploration activities undertaken by Aldershot Resources Ltd during the tenement's first year of term, 7 December 2005 to 6 December 2006. Activities completed during the reporting period comprised field and desktop geological studies, and historical data compilation. A list of 41 open file reports was identified in and around the Mount Thomas tenement. A selection of these (30) was ordered from the NT Mines Department in digital format. Historical drilling covering the Mount Thomas Project area was digitally captured and incorporated into the Aldershot database. 329 records in total were incorporated including 301 percussion, 27 diamond and 1 drillhole of un-known drill type. The digital data (which is patchy and many drillholes are missing information such as maximum depth, co-ordinates, drill dates and company information) is included in this report. The geological province, tectonic setting, geology, alteration and presence of primary uranium mineralisation make this project extremely attractive. The areal dimensions of the Aldershot tenement afford only 5 km of strike but contain two uranium prospects. Prospectivity increases to the north-northeast in a 30 km-long corridor containing the Mount Thomas prospect, numerous radiometric anomalies, two gravity highs and a number of vertical and horizontal airborne EM conductors. These features signify an important uranium mineralised splay off the Giants Reef Fault. This corridor is considered highly prospective for further discoveries of uranium mineralisation.