Aileron Project EL 24741 Woodforde Annual report for period ending 21 April 2008

Abstract

The license was granted on 21 April 2006 and transferred to NuPower Resources Ltd in 14 March 2007 as a result of the demerger of Arafura's uranium assets into the newly formed company focussed on uranium. NuPower carried out an airborne electromagnetic (AEM) survey in June-July 2007 over parts of the area as part of a larger survey of Nupower's tenements in the Aileron region, designed to explore for buried palaeochannels at the base of and within the Tertiary sedimentary package as potential hosts for secondary uranium. Concurrently water from station stock water bores was sampled and assayed for a suite of major and trace elements the results of which are expected to assist with targeting potential sites of uranium accumulation within the palaeochannel systems. Results from the AEM survey show that the technique has successfully identified the structural southern margin of the Ti Tree Basin and several major palaeochannels that discharged into the basin. Modelling and interpretation of the results is in progress. Assay results of the water samples are available but interpretation of the water geochemistry is in progress. The program for Year 3 is to complete the modelling and interpretation of the data so that the results may be used to target scout drilling to test the palaeodrainages for evidence of uranium accumulation, and to undertake that drilling.