On August 3, 2010, Pancon and Crossland advised that they have further expanded their Central Australia uranium focus with the acquisition of an exploration prospect near their flagship Charley Creek project in the Northern Territory by the purchase of a private subsidiary of ASX-listed Global Geoscience Limited (GSC), which is the registered holder of an exploration opportunity known as the Bloodwood-Highland Rocks Project.

The project area - located approximately 400 km north-west of Alice Springs, in the vicinity of the joint venture’s existing Charley Creek Project - consists of one granted Exploration Licence of 172 square kilometres, and four applications for Exploration Licences on Aboriginal Freehold Land totalling 2,804 square kilometres.

 Pancon and Crossland were attracted to the Bloodwood-Highland Rocks area because:

• The region is highly prospective for uranium mineralization, as demonstrated by the presence of uranium deposits at Napperby and Bigrlyi, and prospects such as Cockroach Dam, Crystal Creek, and Macallan.
• Previous exploration on these areas has been almost exclusively for gold, however, limited uranium exploration at Bloodwood met with early success.
• There has been no uranium exploration in the area since the 1970’s.
• Regional airborne surveys would have been ineffective because of a thin sand cover over much of the area.
• Full coverage of modern geophysical data (magnetics and gravity) allows for targeting of “productive” structures in the underlying basement rocks.

 Bloodwood features:

• Granted exploration licence on pastoral leasehold land.
• Ready for reconnaissance exploration.
• Extensive airborne radiometric uranium anomaly correlates with mapped NNW trending structures.
• Mostly thin residual cover, meaning exploration is relatively straightforward.
• Up to 810ppm U₃O₈ in a shallow drill hole, and elevated radioactivity in outcropping granite porphyry.
• No follow-up of these results.

 Highland Rocks features:

• Covered by four exploration licence applications, and is located on Aboriginal Freehold Land of the Lake Mackay Land Trust.

• Mostly covered by a thin layer of sand, meaning almost no previous uranium exploration.

• Modern geophysical data suggests that parts of the area are underlain by granitoid cut by major structures.
• Similar rocks and structures host the nearby Macallan uranium prospect held by Energy Metals
• Gold and base metal explorers identified several zones of multi-element geochemical anomalism (Au,Ag,As,Bi,Cu,Ni,U) in areas of residual cover. These are considered favourable indicators for basement-hosted uranium mineralization.