Annual report for EL 10176, EL 24371 and EL 24372 for the period 1 September 2005 to 31 August 2006

Abstract

Exploration Licences (EL's) 10176, 24371 and 24372 with a total area of 423.07 km2 comprise the Nabarlek tenements located in west Arnhem Land about 250 km east of Darwin. The tenements were granted on 1 September 2004 for six years to Cameco Australia Pty Ltd (Cameco). The exploration program in the 2nd year of tenure comprised, data compilation, evaluation and target generation. It also included rock chip sampling, core re-logging and sampling (NAUAD0004), mapping and radiometric prospecting at several prospects previously discovered by Queensland Mines Pty Ltd. Thirty-six rock chips were taken for geochemical analysis. A TEMPEST survey was completed over the southern half of EL 10176 and re-processing and re-interpretation of a 2001 TEMPEST survey over the northwest corner of EL 10176 was also undertaken. In addition, a combined airborne radiometric / magnetic survey was done over prospects S27/N84.