EL 25758 Angela Uranium Project Annual Report for period 3 October 2015 to 2 October 2016

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 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. EL 25758 was renewed at the end of the initial term for two years expiring 2 October 2016. An application to renew EL 25758 was lodged over the full 21 blocks prior to expiry and renewal and has been granted for a further period of two years expiring 2 October 2018. Activities undertaken during the tenement year were limited to off-ground studies including hyperspectral analysis and subsequent interpretation of 740 laboratory pulps. The acquired spectra were then reviewed by a hyperspectral consultant.