Annual exploration report EL 24906 for period ending 19 January 2007 Adelaide River

Abstract

EL 24906 is SE of Batchelor, and NE of Adelaide River, bordering the Stuart Highway. Territory Uranium Company Pty Ltd is exploring for uranium, and applied for EL 24906 to explore for vein-hosted U mineralisation. Work during Year 1 of tenure consisted of a review of both NTGS data, and compilation of significant results from Industry reports. Geochemical data was georeferenced in MapInfo to outline areas of identified anomalies. Previous U exploration within the Licence is fairly limited, with best results being 8g/t U metal from a concentrate stream sediment sample collected during prospecting. There is also mention of 'several reefs showing U and Au mineralisation' plus test pits for U. Other work included various airborne geophysical surveys that covered part of EL 24906. Most of the previous exploration focussed on gold mineralisation, with most work centred on the H22 prospect. Work during Year 2 will include field reconnaissance and geochemical sampling around previously identified U test pits and U-bearing reefs, plus geochemical sampling of other identified gossanous veins in structurally favourable settings.