Reconnaissance sampling of lake sediments (30cm depth) has continued within the expanded area of interest.
Values ranging from 30ppm to 50ppm uranium (compared to a background of 3ppm uranium) in surface samples indicate that this lake complex and the associated drainage system contain extensive areas of anomalous uranium.
The elevated geochemistry shows a strong correlation with interpreted basement structures which suggest a possible source of the uranium.
Subject to the necessary permitting and to weather conditions, Magnetic Resources is planning an initial 2,000m aircore drilling programme to test the nature and extent of the anomalous uranium in this previously untested area, as shown in Figure 4. The drilling is anticipated to commence in the September 2008 quarter.
Lake Harvey
Magnetic Resources has acquired a new tenement covering a significant area of uranium radiometric anomalism surrounding Lake Harvey about 35km east of Kalannie in the northern wheatbelt.
The area has not previously been explored for uranium but the strong anomalism around the periphery of the salt lakes appears to be similar to the occurrences at Seabrook. A programme of surface sampling and ground radiometric traverses is being planned to further investigate these airborne radiometric anomalies.
