Sydney, April 30, 2008 AEST (ABN Newswire) - Crossland Uranium Mines Limted (ASX: CUX) has announced the Quarterly Report for the period ended 31 March, 2008. An initial summary followed by a detailed report follow.
HIGHLIGHTS
DRILLING TO COMMENCE AT CHARLEY CREEK CHILLING, AND CROSSLAND CREEK
- Chilling Project (EL(a)22738, EL23682, EL24557, EL25076, EL25077 and EL25078) - Follow up of radiometric anomalies revealed in the detailed airborne survey completed in late 2007 has commenced in April with helicopter support. Progress towards the grant of ELa22738 was made during the quarter. Seasonal conditions indicate an early start to field work may be possible. Crossland have also committed to participate in a major regional airborne EM survey sponsored by Geoscience Australia.
- New Areas acquired - EL24557, Mt Thomas, was purchased from Aldershot Resources Limited, adding to the Chilling project. The 67 square km area contains previously drilled pitchblende mineralisation at Marchfly prospect. Crossland has already acquired detailed airborne geophysics over the area.
- Charley Creek (EL24281, EL 25230) - The services of an air-core rig have been secured and the base camp at Milton Park Homestead is ready for the commencement of field work, which has commenced subsequent to the end of the quarter. Follow- up of anomalies revealed in the recent detailed airborne geophysical survey will commence shortly.
- Crossland Creek (E80/3143; E80/3303) - An agreement was reached with Thundelarra Exploration Ltd to purchase Exploration Licence E80/3854 near Crossland Creek. Field work and preparation for diamond drill testing of the unconformity- related targets will begin in the June quarter once access is possible.
- Kalabity (EL3297, SA): earning 60% minimum from PlatSearch NL and Eaglehawk Geological Prospecting Pty Ltd) - Follow- up auger drilling of the Tabita prospect and an area of elevated palladium results returned from a portion of the KR4 prospect was completed. Results are awaited.
- Cash Position - Crossland's had in excess of $5.6 million in cash at the end of the quarter. Under the terms of the Joint Venture, Pancontinental Uranium Corporation has reimbursed Crossland $291,000 for Joint Venture expenditures.
EXPLORATION DETAIL
Chilling Project, NT (EL(a)22738, EL23682, EL24557, EL25076, EL25077 and EL25078) At the Chilling Project, Crossland's primary targets are unconformity - related uranium deposits, the deposit style that hosts most of the world's high grade uranium.
Further interpretation of results obtained from the airborne geophysical survey completed in 2007 has identified a total of over 40 uranium- channel anomalies, including two in EL24557, recently purchased from Aldershot Resources Ltd (see CUX release of March 6, 2008). These will be examined in a helicopter- supported reconnaissance planned for early April.
A diamond drill rig has been contracted to commence in early June at Chilling. Field work in preparation for drilling will commence as soon as ground conditions permit, which is likely to be in May.
Crossland has committed to participate in a regional airborne EM (AEM) survey that is sponsored by Geoscience Australia and will be undertaken during the 2008 dry season. Crossland will infill the regional survey covering much of the Western Pine Creek Orogen. Crossland will infill the survey over areas of prime interest within the Chilling Project area.
Charley Creek Project, NT (EL24281, EL 25230)
At the Charley Creek Project, Crossland is targeting calcrete and redox- related palaeo drainage uranium targets, with granite-related uranium, and layered mafic intrusive- related copper, nickel and platinoids as secondary targets.
Results received from the airborne geophysical survey of the Charley Creek Project area have demonstrated the high background radioactivity of the Teapot Granite, and the detailed survey has been processed to indicate several areas of interest based on high uranium channel results.
These will be followed up once clearances are obtained from Aboriginal Areas Protection Authority.
The services of an Air- core drill have been secured to test the channels revealed by Crossland's 2007 AEM survey. This work commenced in mid- April.
Kalabity, South Australia (EL3297)
At Kalabity, Crossland's interest is through an agreement with PlatSearch NL and Eaglehawk Geological Prospecting Pty Ltd to earn a majority share in EL3297. Previous work has identified widespread elevated values of uranium and other metals. Recent work by Crossland has identified a new anomalous zone which has been named the Tabita Prospect.
An auger drilling program of 636 holes was completed at the Tabita Prospect, and on extensions to the KR4 prospect where elevated values of palladium were encountered during the 2007 program. Assays are currently awaited.
Crossland Creek, West Kimberley, Western Australia (E80/3143; E80/3303)
At Crossland Creek, Crossland has been targeting diamonds, and copper and associated metals related to a discrete magnetic anomaly.
Crossland has expanded its holdings by the acquisition from Thundelarra Exploration Ltd of E80/3854, which adds more than 450sq.km to the project area. The exploration licence lies around 40km to the south of the original Crossland Creek titles, and covers a similar geological setting, with associated uranium channel anomalies. Field work will commence at Crossland Creek in the June quarter, in preparation for diamond drilling in the 2008 dry season.
Lake Woods, NT (EL23687, EL24520, EL25631)
At Lake Woods, NT, previous exploration, as well as that by Crossland, has identified an anomalous cluster of rare micro- diamonds that are considered to indicate a local source. The area has potential for other commodities. This area is not included in the Joint Venture with Pancon.
Aircore or auger drilling of features revealed by Crossland's 2007 AEM survey is expected to get underway in August.
Western Creek, NT (EL 23684; ELA25605 and ELA25607)
At Western Creek, NT Crossland has identified diamond targets. This area is not included in the Joint Venture with Pancon.
Work to follow up on earlier kimberlitic chromite discoveries at Western Creek has so far been inconclusive. Another phase of drilling will be undertaken to provide conclusive results to this dilemma during the 2008 dry season.
Mount Darling, South Australia (EL3228)
At Mount Darling (EL3228), near the NT border in northern South Australia, Crossland is targeting copper/ nickel mineralisation. This area is not included in the Joint Venture with Pancon.
The Exploration Licence at Mount Darling has been surrendered as a result of the low tenor of geochemistry of samples collected from auger drilling in 2007.
New Projects
Crossland is examining several opportunities to expand its project portfolio.
CROSSCONTINENTAL JOINT VENTURE
Crossland and our joint venture partner, Pancontinental Uranium Corporation, have formed the jointly- owned company, Crosscontinental Uranium Ltd to explore for uranium outside Australia.
Crosscontintal has evaluated several potential ventures during the quarter, but has yet to commit to participate in new ventures. The number and quality of opportunities on offer to Crosscontinental appears to be increasing.
Burkina Faso, West Africa (various applications)
Crosscontinental is awaiting grant of its title applications. Crosscontinental has been advised that grant of most if not all of its applications can be expected in due course once official procedure is finalised. A visit to Burkina Faso by the Exploration Director is planned for June.
Geoff Eupene
Exploration Director
The review of exploration activities and results contained in this report are based on information compiled by Geoffrey S Eupene CP, a Fellow of the Australasian Institute of Mining and Metallurgy. He is a director of the Company and a full time employee of Eupene Exploration Enterprises Pty Ltd. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Geoffrey S Eupene has consented to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Contact
PHONE: +61 (02) 9957 3199
FACSIMILE: +61 (02) 9954 4011
EMAIL: cux@crosslanduranium.com.au
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