EL 24196 Bowgan Project Tenth Annual Report for the period 7 December 2013 to 6 December 2014

Abstract

The Bowgan project is located in the Barkly Tablelands region of Northern Territory, approximately 250 km northeast of the regional centre of Tennant Creek. The project consists of five licences in total; EL 24196 (Creswell Downs), as well as four contiguous exploration licences; EL 24115 (Bowgan), EL 24195 (Benmara), EL 29802 (Benmara East) and EL 30281 (Coanjula) located approximately 100 km further east and reported on separately. Exploration at the Bowgan project is currently targeting the potential occurrence of economic uranium, gold and base-metal mineralisation. Exploration work completed on EL 24196 (Creswell Downs) during the current reporting period included completion of; a field reconnaissance visit, review of geophysical, biogeochemical and ASTER datasets to assist with the design of a first-pass drilling program at two target areas. Interpretation of gravity trends identified with new exploration potential on the west of the north target. Interpretation of mineralogical layers on the ASTER dataset did not yield any significant surface anomalies. Similar issues had been previously identified with conventional soil sampling which identified underlying anomalies to be obscured, as a result of a transported veneer of black soils (gilgai-clay profile). As a consequence, all future revisions to the drilling program currently proposed at the north and south target areas on EL 24196 will be firmly based on BML's existing geophysical data with validation of drilling targets using biogeochemical data.