EL 25758 Annual Report for period 3 October 2014 to 2 October 2015

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. Exploration Licence 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 until August 2011 when Paladin Energy 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 the end of the initial term on 2 October 2014. Renewal was granted for a period of two years expiring 2 October 2016. During the 2014 - 2015 reporting period work focussed on investigations into the geochemical signatures to progress toward mineral mapping of gangue minerals of various ore types. QXRD analysis was conducted on 25 samples and historic mineralogy was compiled.