Exploration licence 24253 Neutral Junction Project, Second annual report for the period 7 April 2006 to 6 April 2007

Abstract

The Neutral Junction Project, located 280 km north of Alice Springs, consists of a single exploration licence, EL 24253. Exploration activities completed by the company during the reporting period included a site reconnaissance visit, geological mapping and geophysical surveys. Geophysical interpretation of data was completed by Hawke Geophysics Pty Ltd. The primary mineralisation model considered was for unconformity-related uranium at the contact between the basement rocks (metasediments of the Hatches Creek Group) and the overlying sedimentary rocks of the Late Proterozoic Georgina basin sediments. Identification of a potential chemical trap, such as a cross cutting dolerite or graphitic shale, was also used as a targeting criterion. Based on the data collected, several prospective areas have been identified for further exploration activity.