First relinquishment report for EL 24912 Churchill's Head for the period 3 May 2008 to 2 May 2009

Abstract

Acacia Minerals Pty Limited purchased EL 24912 from Imperial Granite and Minerals Pty Ltd and on the 9 April 2008, application was made for the transfer of the licence from Imperial Granite to Acacia. The reason for the purchase was that the Company believed that the area had potential for sedimentary iron and copper mineralization, with the southern portion of the licence having the potential for Tennant Creek style ironstones and possible associated copper gold and bismuth. Initial work has produced anomalous copper and nickel associated with a strong magnetic anomaly. This Report summarises the exploration work carried out on EL 24912 during the third year of tenure from the 3 May 2008 to 2nd May 2009. No work was carried out over the relinquished area during the 2008-2009 period.