King River Project EL 5890 Annual and final report 13 May 2005 to 12 May 2006

Abstract

The report describes exploration work undertaken within Exploration Licence 5890 during the tenth and final year to 12 May 2006. The licence area is located in north western Arnhem Land. The exploration program was managed by Cameco Australia Pty Ltd and the Yok Aboriginal Corporation. The primary exploration target is for unconformity related uranium deposits similar to the nearby Ranger, Jabiluka and Koongarra deposits and the now depleted Nabarlek mine. The current years exploration activities consisted of diamond drilling at both the Bower Bird prospect and BIR 1 airborne radiometric anomaly. Minor uranium mineralisation was intersected at BIR1. Drilling at Bower bird failed to locate any uranium enrichment but appears to have established the source of prospect-scale base and precious metal concentration.