Alligator River Project (Uranex 100%)

Background

The Alligator Rivers Project is located in Northern Territory Pine Creek gesoyncline which hosts the world class uranium deposits such as Ranger, Nabarlek and Jabiluka. (Figure 1)
Uranex’s tenements, Love Creek (EL 26164) & Swim Creek (EL 26165) incorporate a number of key geological elements considered favourable for the formation of unconformity style mineralisation that typify the major uranium deposits mentioned above.

Figure 1:  Alligator Rivers Project Location

Uranex Work

Exploration activities initially included completion of a detailed airborne geophysical radiometric and magnetic survey, the processing and interpretation of the results and defining targets. The anomalous targets were followed up firstly by vehicle and walking scintillometer ground checks and later by helicopter assisted scintillometer ground checks.

In 2006, UTS geophysics completed a detailed aeromagnetic and radiometric survey comprising 11749 line kilometres.

Helicopter assisted ground checks of airborne radiometric anomalies were conducted in July 2008 and have yielded results of up to ‘4 x background’ within the Alligator River Project.  Anomalies were checked, where possible by scintillometer foot traverses. Geological observations were made and samples taken.

In 2008, an airborne electromagnetic (AEM) survey by Fugro Geophysics in association with Geoscience Australia (GA).  The raw data was processed by Encom to give various depth layer conductivities. This enabled the identification of deep bedrock conductors as opposed to surface (salt water) conductors.

Future Work Planned

The bedrock conductors assisted in providing targets for drill testing.  Drill targets have been identified that target these conductors, their potential host stratigraphy, and proximity to surface uranium anomalies.  A Mining Management Plan (MMP) has been approved for this work, and is scheduled to be conducted at the conclusion of the wet season, in May 2011.