GR617/23 Charley Creek South Project Group Annual Report EL 33054 and EL 33055 05 August 2023 to 04 August 2024

Abstract

This is the first Group Annual report for GR617 (EL 33054 & EL 33055), 'Charley Creek South', which is located approximately 130km North-West of Alice Springs from Alice Springs. The licenses are owned and operated by URO Corporation. EL 33054 and EL 33055 form part of URO Corporations strategy to explore for precious and base metals, uranium, Rare Earth Elements (REE), energy transition metals and PGEs. Multiple deposit style models will be considered, including IOCG-U, felsic intrusion-related uranium and rare earths, palaeochannel-related calcrete and redox style secondary uranium, mafic intrusion-related nickel, copper, vanadium and PGEs, and polymetallic metamorphic-related deposits. During the reporting period, office studies involved ongoing literature reviews of regional geology, deposit types, and previous exploration in the project area. This desktop work included interpreting PXRF and assay data from surface sampling and drilling, which will assist in generating new targets for potential follow-up drilling. Two rock chip samples were collected from EL 33054 during downtime in the air core (AC) drilling campaign. Analysis using portable X-ray fluorescence (PXRF) revealed a notable zinc result of 142 ppm, but it was decided not to send the samples for further laboratory analysis. In the Charley Creek South area, three air core (AC) holes were drilled to depths ranging between 21-24 meters, totalling 67 meters. Despite access challenges limiting the number of completed holes, significant findings included a zinc intersection in drill hole URAC0058 at a depth of 21 meters, yielding a PXRF measurement of 1,119 ppm Zn, highlighting the area's potential for base metal mineralisation and informing future exploration strategies. URO plans further ground based field sampling, and GR-Spectroscopy radiometric surveying in the next period, coupled with more extensive drilling.