1st annual exploration report EL 25222 Bamboo Creek for period ending 8 November 2007 Daly River Project NT

Abstract

EL 25222 is 220km south of Darwin (by road). Territory Uranium Company Ltd is exploring for uranium, and applied for EL 25222 to explore for U mineralisation. Work during Year 1 of tenure consisted of a review of both NTGS data, compilation of significant results from Industry reports and geophysical data review. A planned airborne geophysical survey for the western part of EL 25222 did not happen but is planned for Year 2. The previous work showed that early exploration (in the 1960's and 1970's) focussed on evaluating the phosphate potential, which is considered limited. Base metal mineralisation has been found in a number of locations within EL 25222 with varying levels of exploration activity. Uranium mineralisation has been investigated by Suttons Motors in the late 1970's and by the Total / PNC JV. Suttons Motors delineated low level U radiometric anomalies throughout the tenement. The Total / PNC JV used INPUT EM and thermoluminescence to evaluate the uranium, with most work focussed west of EL 25222.