EL 23700 Namarrkon Project Annual Technical Report for the period 31 May 2014 to 30 May 2015

Abstract

Only small areas of the Namarrkon permit are accessible by vehicle due to the widespread sandstone cover escarpment, which can in areas be greater than 200m thick, requiring helicopter support to access the area for geological mapping, rock sampling and drilling. This has resulted in limited, and widely spaced drilling in the permit. This sandstone cover also effectively masks any surface expressions of uranium mineralisation and new techniques are required to 'see' through this cover. To date historical work has been limited to campaign based diamond drilling focussed on known structural zones. To support further exploration at Namarrkon and other areas under thick cover, the Company has completed a study into the alteration signature of the Nabarlek deposit with an aim of using historical drill data to zone in on areas where drilling may not have intersected uranium mineralisation but may have been a 'near-miss'. Within the Namarrkon lease two of the 11 holes drilled to date have useful multi-element geochemistry, and no holes have any recorded SWIR data. Of the two holes with detailed geochemistry, NMD002 contains medial to proximal alteration geochemical signatures, suggesting follow- up is warranted.