Partial relinquishment report on EL 25204

Abstract

Territory Resources Limited applied for tenement EL 25204 on 20 February 2006. Following native title, landholder notification, and advertising, the tenement was granted on 11 October 2006 for a term of 6 years, expiring on the 10 October 2012. On 10 October 2008, the second anniversary of the tenement, it was required that the tenement be reduced from 8 to 4 graticular blocks, with an area reduction from 14.3 km2 to 11.44 km2. This report covers the relinquishment of these blocks. The relinquished blocks were underlain by rocks of the Whites Formation and Coomalie Dolomites of the Mt Partridge Group, rock types with low prospectivity for Iron Ore. The anticipated setting for iron ore deposits in the Batchelor area is that of the Wildman Formation of the Mt Partridge Group. As such, areas thought not to be underlain by rocks of the Wildman Formation were deemed to be of low prospectivity and so were dropped as part of compulsory relinquishment. Tenement blocks towards the eastern margin of the tenement were retained since the margin is underlain by rocks of the Wildman Formation which serves as the host rocks for the Frances Creek Iron Ore deposit near Pine Creek and deemed as prospective for hydrothermal styleiron ore deposits. Activities undertaken by Territory Resources Limited included; a review of historical data on the as summarised by Mobil Energy in CR 1984/010, retrieved from the Northern Territory Geological Survey Library in Darwin. Publicly available aeromagnetic data was reviewed by external geophysical contractors to identify potential aeromagnetic targets, one reconnaissance field trip and one detailed mapping project completed on the tenement identified areas of higher and lower prospectivity. During this period exploration activities within EL 25204 comprised of reconnaissance traversing of the iron prospective rock units within the tenement. No prominent ironstone outcrops were identified, hence planned scout RC drilling of any kind was deferred to next year as more field work is needed for drill target generation. New QuickBird satellite was ordered through SKM during the year to assist with target generation. The reconnaissance mapping indicated that the majority of the iron ore prospective Wildman Siltstone is overlain by sand cover and magnetite bearing laterite. Samples for geochemical analysis have been submitted for the limited laterite, quartz vein and ferruginised carbonaceous shale outcrops found in the mapping area. No significantly anomalous results were obtained from this sampling. The relinquished blocks were areas underlain rock types interpreted as belonging to the Coomalie Dolomite and Whites Formation of the Mt Partridge Group. The anticipated setting for iron ore deposits in the Mt Partridge Group is believed to be restricted to the Wildman Formation, found towards the eastern edge of the tenement. As such, areas thought not to be underlain by rocks of the Wildman Formation were deemed to be of low prospectivity and so were dropped as part of compulsory relinquishment.