Final relinquishment report for EL 24261, period ending 10 April 2007

Abstract

EL 24261 was acquired to investigate intense magnetic anomalies within the Palaeoproterozoic basement rocks with potential for ironstone associated gold-copper-bismuth mineralisation. The tenement was granted on 24 November 2004 over 5 blocks. No field work was able to be conducted on the tenement due to access issues. Although the licence occurs on Commonwealth land under native title claim by the Warumungu People, access to the area is only possible via Aboriginal freehold land. The Warumungu landholders have refused consent of grant for several Red Metal EL applications on this land (ELA24009, ELA 24145, EL A24259) following meetings arranged by the Central Land Council. Despite the circumstances, the Titles Advisory Board of the Minerals and Energy Division expressed concerns over lack of expenditure and activity on the title since grant, and in March 2007 threatened to cancel the licence unless Red Metal could show cause as to why the cancellation should not proceed. Red Metal Limited decided to hand the licence back to the Department on 10 April 2007, confirming that no work was conducted. This is the final report.