Annual report EL 23573 Year ending 22 December 2005

Abstract

In 2005 Arafura reached agreement with Laramide Resources Ltd whereby Laramide could take over exploration of EL 23573 and thereby earn equity in the licence. In mid-2005, Laramide commissioned a low level, high resolution airborne geophysical survey over the licence as an adjunct to a wider survey over all of its exploration interests in the region. The survey was flown by UTS Geophysics August-September at 60 metres terrain clearance on lines spaced 100 metres apart. Processing and interpretation of the data from the survey was still in progress at the end of the year under review but initial indications are that several new high-priority uranium anomalies have been detected within the area of EL 23573. An aggressive exploration program is planned for the next year of the licence to comprehensively test these anomalies.