EL 24372 Nabarlek Project Final surrender report for the period 1 September 2004 to 31 August 2008

Abstract

The exploration licences EL 10176, 24371 and 24372, which form the Nabarlek Project, were granted to Cameco Australia Pty Ltd (Cameco) on 1st September 2004 for a period of six years. When the project was established in 2004, it covered 155 blocks with a total area of 423.07 km2 over the three exploration licences. In August 2008, Cameco surrendered EL 24372 (approximately 6 blocks). This report describes exploration work undertaken on the surrendered EL 24372 between 2004 and 2008. The exploration objective of the Nabarlek Project is to discover economic 'unconformitystyle' uranium mineralization within a geological setting similar to the known deposits of the Alligator Rivers region of Northern Territory, and the concealed high-grade deposits of the Athabasca Region in the Saskatchewan Province of Canada. Exploration activities in the relinquished area between 2004 and 2008 included field reconnaissance, and a TEMPEST survey conducted in 2006. The survey did not identify any encouraging targets and assay results from the field sampling program did not encourage any follow-up work.