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GAWLER URANIUM PROJECT Helix Resources Limited – 100%
(Toro Energy earning 51% of the Uranium Rights) |
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The Gawler Uranium Project is located 700 kilometres north west of Adelaide in South Australia's Gawler Craton. The project comprises the same 3,250 square kilometres of tenements as the Lake Everard Gold Project. A Joint Venture with Minotaur Exploration Ltd (“Minotaur”) over the Lake Everard Project was entered into in early 2005. In 2006 Minotaur decided to spin off its uranium assets along with its Alliance partner Oxiana to form Toro Energy Ltd. The Lake Everard Project area was considered prospective for palaeochannel uranium and was added as a separate joint venture with Helix. Toro Energy Ltd has carried out a regional airborne AEM survey on 1 kilometre line spaces covering approximately 920 square kilometres of the project. The AEM dataset was processed and a depth to basement-palaeochannel location interpretation was conducted by Toro’s geophysical consultants. The survey has identified a 25 kilometre long portion of palaeochannel, along which the AEM survey identified five (5) priority palaeochannel uranium targets. Each target area will have approximately 200 holes drilled in fence lines to transect the palaleochannels to fresh basement. |
 AEM Survey Interpreted depth to Basement/ Palaeochannel image |
| The target area is located on the eastern edge of South Australia’s Yellabinna Regional Reserve, therefore a series of access conditions must be met prior to drilling. Drill planning is currently underway, with fieldwork expected to commence at the end of the fire-ban season. Drilling is scheduled to commence in the second quarter of 2007. |
 Palaeochannel Uranium Targets |