Partial relinquishment report for EL 22824 and EL 23566 Plenty River, for period 19 December 2005 to 18 December 2007

Abstract

This is the first partial relinquishment report on AusQuest's Plenty River tenements, EL 22824 and EL 23566. Tenements EL 22824 was acquired as part of a larger project, searching for Broken Hill Style lead-zinc-silver mineralisation within a major transcurrent fault corridor, extending WNW-ESE through the region. However, following the recent geochronological study by David Maidment encompassing the same general area, this target type is no longer considered viable, as no evidence was found for rocks in the target age range of 1.7 to 1.6 Ga. Tenement EL 23566 was pegged after the definition of a cluster of dipolar anomalies to the east (then within AusQuest ELA's 22872 and 23792) by the 2001 NTGS Eromanga aeromagnetic survey. These anomalies strongly resembled the dipolar anomalies commonly associated with potentially diamondiferous kimberlite or lamproite pipes. The Eromanga survey indicated several dipolar anomalies within the area now covered by EL 23566, as well as giving a new possible significance to similar anomalies on EL 22824 (above) in the older Huckitta aeromagnetic survey. From within the relinquished areas of tenement no dipolar anomalies from EL 22824 and ten dipolar anomalies from EL 23566 were geophysically modelled then loam sampled in a helicopter-assisted field program in July 2006. The samples were processed and mineral observed by Global Diamond Exploration Services but no diamonds or diagnostic indicator minerals were found. The tenements have been reduced as part of compulsory 50% reductions. No further work was deemed necessary within the relinquished areas.