Annual Report EL 9637 Mount Howship for 15 May 2017 to 14 May 2018

Abstract

EL 9637 was granted to Heavy Metal Resources Pty Ltd ('HMR') on 15 May 2009 for an initial period of six years. HMR formed a joint venture with Cameco Australia Pty Ltd ('Cameco') for all subsequent exploration activities; this joint venture was concluded in May 2015. No previous exploration had been carried out within EL 9637 until this time. Cameco retains no interest in the title. HMR then engaged in a search for a new partner, and this was ultimately successful in March 2017, when a Memorandum of Understanding was made with Torch Energy Pty Ltd ('Torch'). A formal Heads of Agreement is currently being finalised. While work proposed for the year ending 14 May 2018 included some ground geological mapping, geochemical sampling, relogging of core, and photo interpretation, this work was unable to be done, as a meeting with traditional owners to receive permission could not be arranged prior to the wet season. An investigation into potential structures controlling mineralisation was commenced, but could not be completed due to an inability to obtain relevant aerial photography. Observations from historical work in the region indicate that most structures observable in the overlying mid-Proterozoic Kombolgie cover sequences are NOT related to the basement structures responsible for formation of the primary uranium deposits (Fig 2; Browne 2018). Hence it is critical to understand the detailed structural history of the Lower Proterozoic units, and especially any superimposed structures from later tectonic events.