Final combined annual technical report Sandover Project 30 June 2011 EL 26545 Derry Downs, EL 27052 MacDonald Downs and EL 27531 Johnos Bore

Abstract

Exploration activities during the period involved the drilling of 47 aircore holes for 3314.2m on EL27052 and EL27531. Gamma responses due largely to thorium and elevated uranium was associated with redox boundaries in clays and tied up in phosphate lattice. The likelihood and potential for sandstone-style uranium mineralisation in this part of the Georgina Basin has been downgraded. Calcrete style uranium has some potential but likely in tenements to the east. Phosphate potential remains untested on EL 27531.