Partial relinquishment report for EL 24665 Towns River

Abstract

Exploration Licence (EL) 24665 is located within McArthur Basin about 618 km south-east of Darwin. Well known Merlin Diamond mine and McArthur River base metal deposits are located in the area. This part of the McArthur Basin is known for base metals, diamond and iron ore mineralisation. EL 24665 was granted to Mike Teelow on 28 April 2006 for a period of 6 years which expires on 27 April 2012. It covers an area of 368 blocks (1217.0 km2). In accordance with NT Mining Act 184 blocks must be relinquished at the 2nd anniversary of the tenement. Only a peripheral review of this group of tenement was undertaken which identified significant potential particularly for base metals, iron ore, diamond and manganese. In accordance with NT Mining Act, half of the area must be relinquished at the 2nd anniversary. As a result, 184 blocks of the tenement were surrendered.