Uranium analysis of Rinkabeena Shale in petroleum well Davis 1

Abstract

Reason for sampling: We wanted to know if the Rinkabeena Shale in petroleum well Davis No.1 might constitute a source for uranium mineralisation within the Ngalia Basin, which we are currently exploring for uranium. The well Davis No.1 does not fall with any of our current tenements. However it relates to our other tenements EL 24927 (in application), EL 24879, EL 24928, EL 24929, EL 24561, E L25283, EL 25334 & EL 25556, that we hold within the Ngalia Basin.

'Three samples were collected from the washed chips of the Davis 1 well, which was drilled through the sedimentary rocks of the Ngalia Basin. The composited interval was interpreted to be within the Rinkabeena Shale, and the chips were composed generally of light-dark grey, speckled, fissile, slightly pyritic, slightly micaceous and slightly calcareous shale. A half-teaspoon was taken from each vial. The results indicate very low uranium abundances (3.5-4ppm) for these samples, and this unit is therefore unlikely to constitute a source for uranium mineralisation elsewhere within the Basin.'