Neutral Junction EL 24253 Annual report for the year ending 6 April 2006

Abstract

Geochemical sampling and field visit failed to identify any significant mafic rocks within the prospective Hatches Creek Group stratigraphy, and the nickel sulphide potential was downgraded. After that, uranium prospectivity of the area was evaluated and this led to the establishment of a joint venture with Hindmarsh Resources, a uranium explorer and now the operator of licence. An appraisal report indicates that the area is prospective for uranium and base metal mineralisation, particularly Late Proterozoic Mount Stuart Formation. NTGS airborne magnetic surveys indicate basement potential. It further suggests that water bore geochemistry may be an inexpensive method of testing for geochemical properties using secondary mineral assemblages as indicators for uranium levels.