Partial surrender report for EL 24971 Manton River, for the period 14 June 2006 to 13 June 2008

Abstract

Glengarry Resources' Rum Jungle Project is located 65km south of Darwin and 25km northeast of Batchelor along the Stuart Highway and Alice Springs to Darwin Railway line. The Project encompasses over 140km2 of prospective Proterozoic stratigraphy in the Pine Creek Geosyncline, proximal to the historical Rum Jungle Uranium Mine and the Woodcutters Lead-Zinc Mine. Rum Jungle produced 0.66M tonnes @ 0.43% U3O8 for 3530 tonnes U3O8 between 1954 and 1971. Approximately 6M tonnes @ 12% zinc and 6% lead was mined from the Woodcutters Mine between 1985 and 1999. Production of 17,800 tonnes @ 10.7g/t gold was also mined from three small Sundance pits in 1986 and 1993, located 2.5km east of Batchelor and 12km southwest of the Woodcutters Mine. Within the Rum Jungle Project the Manton River EL24971 abuts the eastern margin of the Archaean Rum Jungle Complex. The Complex is mapped as two subcropping domal inliers of Archaean schists and fractionated I plus S-type granite gneisses unconformably draped by Lower Proterozoic Manton Group and Mt Partridge Group metasediments of the Pine Creek Geosyncline. The age of the geosyncline is constrained between 2470 and 1870Ma. Multiple phases of folding and faulting affected the Pine Creek rocks between 1880 - 1760Ma resulting in gently folded northsouth trending stratigraphy. The sedimentary rocks have been metamorphosed to subgreenschist facies. The regionally extensive and northeast trending Giants Reef Fault truncates the Rum Jungle Complex and displays dextral strike slip faulting, displacing the Rum Jungle Complex up to 7km within the Manton River EL. Geology within the Manton River EL is dominated by older Crater Formation and Coomalie Dolostone overlain by Whites Formation metasediments along the western limb of the Woodcutters Anticline. The Whites Formation is dominated by pyritic carbonaceous shale and hosts the Rum Jungle uranium deposits plus base metal mineralisation at Woodcutters. Exploration undertaken within the surrendered portion of EL 24971 by Glengarry Resources has consisted of the compilation and review of all historical exploration data, compilation of available regional geophysical datasets and field validation/inspection of geochemical anomalies. No anomalies were generated hence the portion of the tenement was relinquished.