Partial surrender report for EL 22537

Abstract

The Box Hole tenement EL 22537 is located approximately 250km north-east of Alice Springs in the Northern Territory, 5km East of Arapunya Station. The project area falls within the Huckitta (SF53-11) 1:250,000 sheet. The Box Hole tenement Exploration Licence (EL) 22537 was granted to Elkedra Diamonds NL (Elkedra) on 16 July 2001, and subsequently transferred to Uramet Minerals Limited (Uramet) in 2007, with Elkedra retaining rights to diamonds. The tenement has been renewed for a further two years with the expiry date currently set at 15 July 2011. Prior to April 2009 the tenement comprised two separate areas; however a partial reduction of the tenement was made during the year, with all of the western area being surrendered. Work undertaken within the surrendered portion of the tenement includes reprocessing of regional government magnetic and radiometric data by Elkedra, and reconnaissance targeting phosphorite by Uramet. No evidence of phosphorite was found. While relatively little work has been conducted within the surrendered portion of the tenement, it is considered by Uramet that the area is not of a high priority for base metal, uranium, or phosphate exploration.