Annual report on EL 25794 from 11 June 2008 to 10 June 2010

Abstract

EL 25794 is considered a strategic landholding which is located about 1280 km south of Darwin, and 120 km north of Alice Springs Australia. It covers 450 sub blocks (1215 km2) on the Hermannsburg (1:250 000) sheet. EL was granted to Legend International Investment Pty Ltd on 11 June 2008 for a period of six years, and will expire on 10 June 2014. The project area comprises Palaeoproterozoic rocks of the Arunta Block along with possibility of Amadeus Basin stratigraphy, now covered by Quaternary sediments. These rocks are represented by Narwietooma Metamorphics, Mount Hay Granulite, Mount Chapple Metamorphics, Bunghara Metamorphics and Forty Five Augen gneiss, probably intruded by granites at depth. During the reporting period, in-depth technical review of the project area was undertaken, and was flown by high resolution geophysical survey (magnetic and radiometric). In addition, project area was visited by geologists for reconnaissance geological survey and in order to plan future exploration activities. Lithological, geochemical and geological information suggest that the EL 25794 has potential for hosting uranium, copper, gold, Ni, Co and PGE mineralisation. There is also possibility of carbonatite which could have REE and uranium mineralisation as discovered in the northern part of Arunta Block e.g. Nolan Bore. In the next reporting period, newly obtained geophysical data will be processed and interpreted, which will provide areas of high priority for further exploration. Selected areas of EL 25794 will be mapped in detail and rock samples will be collected for petrographic and geochemical evaluation for a variety of mineralisation. This program will lead to identify targets for further RC/RAB drilling.