GR617/24 Charley Creek South Project Combined Group Annual and Final Report EL 33054 and EL 33055 for the period 05 August 2022 to 14 August 2025

Abstract

The annual reporting group GR617 (Charley Creek South), inclusive of 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 tenure, 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 assisted in generating new targets for potential follow-up drilling. A surface sampling and field reconnaissance program was conducted over the project area. A total of 347 soil samples and 54 Rock Chip were collected over both EL 33054 and EL 33055. During the field campaigns, three separate geological domains were sampled highlighting the potential for rare earth elements in alluvial deposits, the radioactive nature of Teapot Granite, and interesting mineralization in specific rock formations, although some samples' origins remained uncertain. Scintillometer readings and portable pXRF data obtained from the alluvial deposits to the north of the ranges are encouraging. These findings suggest the presence of REEs within this region, making it a promising area for further exploration and assessment. In the project 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. Due to company priorities and a strategic focus on other projects, no on-ground work was undertaken within the Charley Creek South area during the final reporting period. A comprehensive review of all available data led URO to relinquish the ground at this stage; however, the area is still considered prospective.