Annual report for EL 23509 for the year ending 26 February 2009

Abstract

Exploration for uranium mineralisation was carried out on EL 23509. Previous work over the tenement area has been largely restricted to prospecting and ground geochemical surveys for gold, tin and base-metals. The EL contains a number of historical tin mines, known as Bells Tin Mines or Hayes Creek Tin Mines. Uranium exploration on EL 23509 commenced as a result of exploration work in an adjacent tenement and the identification of anomalies on EL 23509 from publicly available airborne radiometric data. Ground radiometric grids for a total of 29.8 line km at nominal 33m grid spacing were surveyed over two prospect areas, Mount Osborne and Thunderball Extended. Outcrop mapping at was carried out over the Thunderball Extended Grid. Uranium mineralisation was identified in a North trending fault at Thunderball Extended Prospect near the contact between Mount Bonnie Formation and Gerowie Tuff. Channel (12 samples) and rock-chip samples (1 sample) from Thunderball Extended Prospect assayed up to 6910ppm U. Mineralisation is fault or shear hosted and possibly associated with a now eroded unconformity. Further evaluation of the Thunderball Extended Prospect by diamond drilling is required.