Annual Report on EL 4638 Grace Creek, year ending 03-10-1986

Abstract

This was the second year of tenure for the Exploration Licence.

Soon after the Licence was granted an Aboriginal Land Claim was lodged over Eva Valley Pastoral Lease which includes the Licence area. Towards the end of 1985, trading of tin ceased on the London Metal Exchange and tin prices have been very depressed since. These two factors considerably dampened enthusiasm for exploration in the area. A Northern Territory Company, Mineral Horizons NL took up an option over the Licence area during the year. This Company has assessed the area and carried out some sampling and panning which confirms the work of previous explorers. Furthermore, some field and office studies have been directed towards establishing the volume of alluvium in the area. The outcome of this work is that the volume of material is probably sufficient to justify further work if the tin price were to rise significantly,