Final and Relinquishment report for EL 23499 'Urapunga North', period ending 12/05/204

Abstract

Exploration Licence 23499 was granted to Exploration & Resource Development Pty Ltd (ERD) on the 13th June 2003. ERD Pty Ltd, a Darwin based resource sector company, is the designated Project Manager. The tenement covers approximately 919 sq km covering a portion of Roper Group stratigraphy in the Bauhinia Shelf tectonic element of the western McArthur Basin. The tenement lies wholly within the Wilton River Plateau uplands region, a part of the Gulf Fall physiographic province. The terrain largely comprises flat-lying Proterozoic sandstone with prominent steep jointing. The tenement is predominantly inaccessible by road and is dissected by the N-S flowing Wilton River and its tributaries. The geology is dominated by glauconitic sandstone of the Crawford Formation in the north and fine grained sandstone and interbedded siltstone of the Jalboi Formation in the south. Quaternary/Cenozoic alluvium, colluvium and mud-rich floodplain deposits are evidenced in the north largely concealing stratigraphy. Previous exploration in the EL environs has comprised regional drainage stream sediment and gravel sampling programs targeting stratabound base metals and diamonds. These reconnaissance and subsequent follow -up ground surveys led to the discovery of the low grade Wongalara lead-zinc prospect during the 1980's and 1990's. The deposit is not considered economic. Interrogation of the recently produced DBIRD diamond and diamond indicator database reveals sparsely scattered positive results and a single macrodiamond within the EL confines. The scattered indicators and diamond are considered to be secondary sourced and hard rock diamond potential is deemed low as follow-up sampling by previous explorers failed to repeat the positive results. Open file reviews suggest that sufficient work has been undertaken within the EL confines to downgrade the mineralisation potential. No further work is recommended and the EL was surrendered effective 12th May 2004. No field work was undertaken during the term of tenure.