Final relinquishment report for EL 24196 (Creswell Downs) Bowgan JV Project

Abstract

Assessment of previous exploration data concluded that the target stratigraphy was absent from the area to be relinquished. Apart from an initial reconnaissance visit conducted to this area of EL24196 during August 2006, no other exploration field work was completed within the relinquished area of this tenement. Consequently, in November 2007, an initial 50% block reductions were for EL24196 was completed by Mega Hindmarsh and Marengo in accordance to Section 26 and 28, of the Mining Act (dated 18 September 2007). In November 2008, a second and final 50% block reduction was completed by Mega Hindmarsh and Marengo. In summary, the current active tenement area for EL24196 consists of 20 blocks out the original 79 blocks that were granted on the 7th December 2004. This report details exploration work completed within the block areas relinquished in November 2007 and November 2008.