Kurundi Project combined annual report for EL 23937 and EL 24995 for the period 13 February 2010 to 12 February 2011

Abstract

No on-ground field work was completed on the project during the reporting period. In October 2010 Northern Minerals acquired the non-uranium rights to the tenements EL 23937 and EL 24995 from Ferrum Crescent. At the time of writing the tenements are being transferred to Northern Minerals. The eastern portion of EL 23937 has been relinquished in 2010 following an assessment of phosphate exploration data collected during 2009, which downgraded the prospectively for phosphate mineralisation within the area. The uranium potential of the immediate Munadgee Mine area remains untested due to access issues centred on Aboriginal sacred sites. A short diamond drill program is recommended to test these workings. Rock chip sampling, geological mapping and ground radiometrics is also recommended over targets identified to the south of the historical Munadgee uranium prospect which share similar radiometrics and geological settings with Munadgee.