EL 23677 Relinquishment report on the 3 blocks dropped in July 2007

Abstract

This document is the Report for the 3 blocks relinquished from EL 23677 in July 2007. EL 23677 flanks the Rum Jungle Mineral Field and as such has been subjected to systematic exploration in the past primarily targeting uranium and, to a lesser extent, base metal mineralisation. Some regional sampling of stream sediments and rock chip for gold has been recorded. The document reports on field activities on the relinquished area during the period 30 July 2003 through to 29 July 2007. The main target for EL 23677 is gold mineralisation within the folded Burrell Creek Formation and to a lesser extent base metal mineralisation associated with the Coomalie Dolomite/Whites Formation interface. Known gold mineralisation has been reported from the south and east of the tenement. Compass Resources considers the EL having potential for base metals and uranium as well as gold. Prior to Compass' involvement in the tenement, regional stream sediment and rock chip sampling had been carried out. Seven stream sediment samples were collected and analysed by the Bulk Leach Extractable Gold(BLEG) method. Similarly five rock chip samples (7145 to 7147, 7245) were collected in the same vicinity. All results are at or below detection limit. As no further work is warranted, the ground has been relinquished.