Partial Relinquishment Report on EL 327 and EL 3340, Arnhem land Project; June 2001

Abstract

Five granted tenements located within the central parts of the Arnhem Land Aboriginal Land Trust form the Arnhem Land Project. Three of these tenements, ELs 328, 329 & 9969 were surrendered prior to the third anniversary and the remaining two ELs 327 & 3340 were partially relinquished. This report describes in detail all work completed on the relinqushed portion by De Beers, and Cameco. Diamond exploration conducted by De Beers Australia Exploration Limited during the three years of tenure involved the collection of reconnaissance heavy mineral samples, the interpretation of a regional airborne magnetic/radiometric survey and the field inspection of the anomalies generated from these surveys. The Arnhem Land Project forms a farm-in agreement with Cameco Australia Pty Ltd. Cameco Australia primarily explored the tenements for uranium, with secondary interests in precious and base metals. Exploration activities undertaken over the relinquished portions of exploration licence 327 & 3340 involved the flying and interpretation of a regional magnetic/radiometric survey. No features of interest were selected by Cameco within the relinquished portions of EL327 and EL3340. The relinquished portions of the tenements are considered to have little potential to host an economic diamond or uranium deposits.