(Partial) Relinquishment report for EL 8189, year ending 6 December 2006

Abstract

Licence EL 8189, originally comprising 39 blocks totalling 109.3 sq km, was finally granted for a period of six years on 6th October 2003. At the end of the 2005 reporting year, a 50% relinquishment of these 39 blocks was undertaken in line with the requirements of the Mining Act. At the end of the 2006 reporting period the licence is being further reduced by 50%, resulting in the relinquishment of a further 6 blocks. The area over which the licence covers has been intensely explored over the past 50 years by Mount Isa Mines as part of investigations into the development and exploitation of the McArthur River (HYC) deposit and exploration of the surrounding highly prospective lithologies of the McArthur Basin. All of the prospects delineated, including the HYC deposit, have since been converted to Mining and Mineral Leases. No exploration activities or subsurface testing was conducted on the relinquished graticule blocks during the reporting period.