Second partial relinquishment report for EL 23566 Plenty River for the period 19 December 2005 to 18 December 2008

Abstract

This is the second partial relinquishment report on AusQuest's Plenty River tenements EL 23566. 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. Work was completed as part of a broader program of exploration focussed within adjacent tenements in the Plenty River Project area. From within the relinquished areas of tenement four 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 the second compulsory 50% reductions. No further work was deemed necessary within the relinquished areas.