Partial relinquishment report for EL 25594 Palmer River

Abstract

The Palmer River Project (EL 25594) consists of one granted exploration licence covering 1,426 km2 located about 120 km south of Alice Springs. The project area is 100% owned by Atom Energy Ltd. Palmer River is located some 50 km in from the Stuart Highway with the turnoff at the Earnest Giles Road, a distance of 120 km south of Alice Springs. The area is served by numerous tracks branching off the main north-south Stuart Highway from Alice Springs. The Indigenous Settlement at Arkanta Well No.5 is in the central part of the lease on the old stock route and is run by an ex member of the Central Lands Council (CLC), Mr. Bruce Breadon. The lease is on the Henbury 250k - SG5301. EL 25594 was granted on 23rd October 2007 for a period of 6 years. The tenement covers an area of 1,458 square kilometres and is held 100% by Atom Energy Ltd. In August 2009 Atom relinquished 276 sub-blocks, reducing the tenement form 497 subblocks. This represents 55% of the tenement area from EL 25594. Exploration activity included compilation and interpretation of previous exploration data, ground confirmation along with waterbore and rockchip sampling. A regional HyVista program also covered the Palmer River tenement and highlighted areas of hydrothermal alteration.