EL 23700 Namarrkon Project Annual Technical Report for the period 31 May 2013 to 30 May 2014

Abstract

The Namarrkon Project is located in the western portion of the Arnhem Land Aboriginal Reserve, 28km east of the Gunbalanya (Oenpelli) Aboriginal Community and approximately 300km east of Darwin. Namarrkon consists of a single exploration licence, EL 23700, with a total area of 43.8km2 that forms part of the larger Nabarlek Project. Initially granted to Cameco Australia Pty Ltd (Cameco), the project is currently operated by Uranium Equities Limited (UEL) who is earning a 100% interest in the tenement. Work completed during the current reporting period included; re-examining available historical drillholes and a field reconnaissance of the northern Namarrkon region; processing and interpretation of geophysical datasets to assist with the structural interpretation and targeting of the region; and Aurel Consulting was commissioned with constructing 3D models of key target areas in the Nabarlek region. A completion report has been received which includes 3D models of the Quarry Fault Zone which extends through the Namarrkon exploration licence area.