EL 25002 Robbie's West Project Annual report 2 September 2009 to 1 September 2010

Abstract

Robbie's West project comprises EL 25002 which covers 10.83 km2 (portions of 4 blocks) and was granted to Cameco Australia Pty Ltd (Cameco) on 2nd September 2008. Robbie's West prospect was defined by historical exploration with rock chip sampling that returned 0.12 % U3O8 plus 872 ppb Au from a north-south trending quartz breccia and 61 ppm U3O8 plus 11 ppb Au, 681 ppm Li, and 251 ppm Ni from a weathered amphibolite immediately below the unconformity. Several other samples are anomalous in Zn (9280 ppm) and W (196 ppm). Sandstone immediately above the unconformity also reported weakly anomalous Ag (0.65 ppm) and As (10.5ppm). Limited exploration consisting of a helicopter reconnaissance flight over the project was conducted during the reporting period. No ground-based exploration has been completed. Cameco is in the process of divesting EL 25002 to a new operator, with completion of the sale anticipated to be concluded by year end. Work proposed for the third year of tenure will involve ground investigations, reconnaissance, sampling and mapping over the licence.