Mount Shoobridge Project EL 25181 Annual report 30 October 2010 to 29 October 2011

Abstract

Exploration studies completed within EL 25181 during the current reporting period included: the acquisition and processing of the 2010 Geoscience Australia airborne Tempest EM survey data completed over the Pine Creek Geosyncline and all of the tenements comprising Altura's Shoobridge project; soil geochemical sampling over one of the Tempest EM anomalies located within EL 25181; the completion of one diamond drill hole at the Hayes Creek Long Island uranium prospect; and ongoing regional geological studies and the integration of geophysical data sets that have been acquired by Altura over the last two years. There still remains a considerable amount of exploration work to be completed within EL 25181. A review of the Long Island uranium prospect is required and the planning of additional drilling if the review recommends this. The continued integration of the geophysical and geological data is required to ensure that the airborne EM data is explained by the known geology and that prospective targets are not overlooked. The planned studies for the forthcoming period will include geological mapping, rock and soil geochemistry and drilling.