Relinquishment report for EL 7535 for the period 12-11-1991 to 11-11-1993, Tennant Creek District, NT, Beirut prospect

Abstract

This report details the work undertaken by Poseidon Gold Limited (PosGold) on the one graticular block of EL 7535 (Beirut) that has recently been relinquished. The report covers the period from 12/11/91 to 11/11/93. The relinquished block (sheet 52/I, block 35/70) is mostly covered by MLC's and ERL 74 forming part of the current White Devil mining operations. Therefore detailed information concerning these activities has of necessity had to be withheld. Exploration Licence 7535 consisting of four graticular blocks was granted to PosGold on 12 November 1991 for a period of four years. Partial deferral in relinquishment was granted allowing three blocks to be retained and one block to be relinquished. The exploration licence is located approximately 35 km north-west of Tennant Creek. Exploration completed by PosGold on the relinquished portion of the licence includes the following: - Airborne Magnetic Survey - Regional Gravity Survey - Interpretation of a Regional Photogeological Map - Vacuum Drilling Work to date indicates the area is covered by Warramunga Group sediments and porphyries, and that further intensive exploration is not warranted.