Relinquishment report for EL 24256, reporting period 27 June 2005 to 27 June 2006

Abstract

Meteoric Resources NL ('Meteoric') recognised that while the use of magnetics have in the past been the primary exploration tool used by explorers its use in conjunction with the use of gravimetric surveying is becoming increasingly important in identifying new exploration targets. Meteoric has carried out extensive interpretation of gravity and aeromagnetic surveys over this tenement and has used knowledge gained from the considerable amount of work carried out in recent times on the adjoining EL23764 as well as the review and reinterpretation of the explorationdatabase of previous explorers to identify targets for geochemical and geophysical exploration in the coming field season. Structural controls of mineralisation are considered to be important in the Tennant Creek area and it is noted in the Warrego West project area that pronounced structural corridors interpreted from aeromagnetics are evident trending N - S through the 'Chook' mineralised zone west of the tenement. These features together with others evident from the aeromagnetics identify a number of prospective targets in the area but none occur within the very small area of EL24256.