Annual report for EL 25553 Hayes Creek for the year ending 25 July 2010

Abstract

Exploration for uranium mineralisation was carried out on EL 25553. Previous work over the tenement area has been largely restricted to prospecting and ground geochemical surveys for gold, tin and base-metals. The EL lies adjacent to a number of historical tin mines, known as Bells Tin Mines or Hayes Creek Tin Mines. Uranium exploration of the EL commenced after the identification of a strong U-channel anomaly from publicly available airborne radiometric data. During the first year of tenure ground radiometric surveys, geochemical surveys and trenching were carried out. During the second year of tenure 3 RC holes for a total of 200m and 70 samples, were drilled below the trenches at the Bella Rose Prospect. Weak uranium mineralisation associated with ferruginous veining in the oxide zone was intercepted in the RC holes. Geological mapping was carried out over the eastern quarter of the EL. An airborne Tempest EM survey was carried out over the EL in collaboration with GA Australia. During the third year of tenure, the period of this report, 14 RC holes were completed for an advance of 1864m and 184 drill samples. Weak uranium mineralisation was intersected along a structural corridor over 1.5 km strike. All 14 drill-holes were down-hole gamma logged. Optical imaging was carried out on two holes. A trial airborne VTEM EM survey of 16.3 line km was flown over part of the EL. This survey was flown at 200m line spacing and 75 m nominal terrain clearance.