Walling Rock Project

(E30/299) - Encounter 80%, Avoca 20%

The Walling Rock projects are positioned within the western extension of the Lake Barlee drainage system. The targets were selected based on the coincident U, V and P 2O 5 anomalism, within the GSWA regional geochemical dataset. Historical radiometrics data was recently purchased and indicates uranium channel radiometric anomalism coincident with the surface geochemical anomalies. Regional auger drilling is planned to test these project areas and to direct follow up drilling.

A single line of auger drilling at Walling Rock, 70kms south of McPherson's Bore, has intersected uranium mineralisation within lake sediments of up to 1.6m @ 136ppm U 3O 8. Of the 19 holes drilled, 7 contained intersections in excess of 50ppm U 3O 8. The line drilled was designed to test an airborne radiometric anomaly located 1km south of a series of historical drillholes drilled by Esso in the 1970s. Re-interpretation of the historic drilling, along with the new data from the recent auger drilling, has outlined a zone of uranium anomalism within lake sediments that extends over 5kms along the eastern margin of a salt lake. A follow up program of auger drilling at 1km section spacing is planned.