Final report for EL 23496 'Bauhinia Creek Pastoral NW', for the period 04/07/2003 to 06/09/2005

Abstract

Exploration Lease 23496 'Bauhinia Creek Pastoral NW' covers an area of approximately 323 km2 and has previously been reported with EL 23497 in Combined Reporting status. These two leases were separated by the lease application for EL23290, which was abandoned on 31st August 2005. EL 23496 is located within the McArthur Basin near the Gulf of Carpentaria, Northern Territory, approximately 97 km northwest of Borroloola, on the Mount Young and Bauhinia Downs 1:250,000 map sheets. Anglo American Exploration (Australia) Pty Ltd (AAEA) was granted the lease on 4th July 2003 for a period of six years. The lease formed part of a major exploration program that AAEA is undertaking in the Batten Fault Zone of the Northern Territory. The exploration target is sediment hosted massive sulphide Pb - Zn deposits of the McArthur River style. The Batten Fault Zone remains a quality 'grassroots' exploration target that Anglo American Exploration (Australia) Pty Ltd is exploring as part of their larger Batten Trough Project. During the first year of the lease work conducted was comprised of a review of all previous exploration in the Batten Fault Zone dating back over 40 years, reinterpretation of this data and selection of suitable target areas with the potential to host 'world-class' orebodies. This involved data gathering and review, geoscientific desktop studies, organising ground access and logistical preparation for the following field season. No fieldwork was conducted on this lease during the second year of the lease, as exploration efforts were concentrated on other leases within the Batten Trough Project. It has now been decided to relinquish this lease to concentrate exploration efforts on the remaining leases that comprise the Batten Trough Project.