EL 5061 and EL 5062 Deaf Adder Project Partial Relinquishment Report for Period 27 May 1997 to 27 May 2001

Abstract

The report describes exploration work undertaken on the Deaf Addar project within the 218 blocks relinquished from EL 5061 and the 130 blocks from EL 5062 during the four years of tenure. The relinquished areas has been investigated thoroughly with the conclusion that these areas have a low prospectivity for hosting economic deposits of uranium, diamonds or base and precious metals. Multi-element geochemical analysis and clay alteration signature determinations combined with geological and structural mapping and airborne geophysical surveys have not led to discovery of any mineralisation or alteration haloes that could be attributed to economic mineral deposits of any kind. The thickness of the Katherine River Supergroup rocks in the relinquished portions of EL 5061 and EL 5062 is interpreted to be greater than 1000m impacting greatly on the economics of any sub-Kombolgie deposit. The details on drilling and geochemical sampling are not included in this report.