EL25758 Angela Uranium Project Annual Report for period 3 October 2013 to 2 October 2014

Abstract

The Angela Uranium Project is located approximately 25km south of Alice Springs and consists of a single Exploration Licence (EL 25758) encompassing the Angela and Pamela uranium deposits. EL 25758 was granted over an area of 21 blocks on 3 October 2008. The licence is currently registered to Paladin NT Pty Ltd (100%). Cameco Australia Pty Ltd operated and managed the Project to August 2011 when Paladin NT Pty Ltd took over management of the Project. The Northern Territory Government made an announcement on 28 September 2010 that it would not support the development of a mine at Angela, therefore a substantially reduced program has been undertaken during the current and recent reporting periods. An application to renew EL 25758 was lodged over the full 21 blocks prior to expiry on 2 October 2014. During the 2013-2014 reporting period work focussed on transferring drill core, samples and pulps from the warehouse space in Alice Springs to Summit Resources warehouse in Mount Isa, Queensland. Prior to the transfer of the samples it was first necessary to audit and consolidate the samples as they had been poorly archived since their acquisition in 2009 and 2010. Some samples were not transferred to Mount Isa and instead these were either disposed of in a sample pit at Angela in a manner approved by the Department of Mines and Energy or provided to the NTGS core library in Alice Springs. Other work undertaken during the tenement year was a review of the technical work conducted to date, verification of geological logging, construction of a revised 3D model, thin section preparation and rehabilitation.