EL 24808 Annual Technical Report for the period 10 August 2018 to 9 August 2019

Abstract

EL 24808 (Cusack's Bore) is held by Eclipse Metals Limited and comprises part of the companies Ngalia Basin Project prospect, along with EL applications 31499-502, and 32077-080. EL 24808 covers 27 sub-blocks (85.79 km2) of ground within pre-Cainozoic arenaceous continental and marine sediments of the Ngalia Basin. The ground is considered prospective for sandstone Bigrlyi-style uranium mineralisation- hosted within the Mount Eclipse Sandstone; with carnotite mineralisation hosted in surficial sediments and near-surface calcrete horizons, and tertiary uranium palaeochannel-type deposits. Previous exploration history includes an airborne Radiometric/Magnetic survey at 100m line spacing was completed in 2008; a Tempest Airborne Electromagnetic programme at 1,000m line spacing in 2011, and a detailed gravity survey undertaken in 2018, which has now outlined a significant paleochannel system within the tenure. Planned follow up work consists of a passive seismic survey, and the generation of a drill programme to be undertaken in the 2020 calendar year, consisting of approximately 10-12 aircore style holes to test areas of potential uranium and vanadium mineralisation within the outlined paleochannel system.