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URANIUM – RARE EARTH ELEMENTS (REE)<br />
Limbla Project continued<br />
Late last year the company commissioned a detailed,<br />
low-level airborne geophysical survey involving the<br />
acquisition of over 10,000 line kilometres of high<br />
resolution magnetics and radiometric data. The survey<br />
covered 900 sq kms encompassing all areas exhibiting<br />
regionally elevated uranium values, including the<br />
Tourmaline Gorge and Albarta prospects. The survey<br />
was completed in January 2008.<br />
The survey results better defined the known prospects<br />
at Tourmaline Gorge and Albarta/H41. Importantly,<br />
a number of new areas were defined which represent<br />
targets for uranium mineralisation.<br />
A helicopter-supported geological reconnaissance<br />
and sampling program of some of the target areas was<br />
completed. Assay results show uranium values are<br />
anomalous but generally low. The Kay Creek and<br />
5 Mile Creek are lateritised gossans in dolomites of the<br />
Bitter Springs Formation, Uranium samples returned up<br />
to 24ppm, but of interest are elevated base metal values<br />
of up to 168ppm Co, 243ppm Cu, 160ppm Ni, 420ppm Zn.<br />
Three samples were collected from the Tourmaline<br />
Gorge prospect. The results show elevated uranium<br />
values up to 46ppm and thorium up to 28 ppm; together<br />
with elevated rare earths and anomalous barium<br />
values to 0.15%.<br />
No work was carried out on the primary target at<br />
the Albarta/H41 prospect. The exploration program for<br />
the following year includes detailed investigation<br />
of this and the rugged Tourmaline Gorge area using<br />
helicopter-borne radiometric equipment. This will<br />
define specific sites of interest for drill testing, planned<br />
to commence in 2009.<br />
Target Area Target Size & Intensity ( x background) Previous work completed<br />
Albarta / H41 5 kms long & 10 x b/g Mapping, sampling & drilling<br />
Tourmaline Gorge One kms long & 10 x b/g Limited mapping & sampling<br />
Kay Creek area Multiple sites up to 1.3 kms long & 8 x b/g Limited sampling<br />
Hale River One kms long & 10 x b/g New prospect<br />
Illogwa Creek 0.5 kms long & 4 x b/g New prospect<br />
Coulthards One kms long & 6 x b/g New prospect<br />
5 Mile Creek 1.5 kms long & 6 x b/g New prospect<br />
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