Relinquishment report for EL 24944 for the period 4 September 2006 to 3 September 2009

Abstract

EL 24944 is one of five contiguous exploration licences which form the Roper Bar Project. The tenement is located about 200 kilometres east of Mataranka in the gulf country of Northern Territory. EL 24944 covers an area of 392.3 square kilometres within the proposed Limmen National Park and is prospective for iron ore. EL 24944 was purchased by WDR Iron Ore P/L (100%) in February 2009. The tenement was previously owned by Terra Gold Mining P/L. The tenement is part of a JV partnership agreement between WDR Iron Ore P/L (85%) and IMEA Exploration and Development Australia P/L (15%) in conjunction with the other Roper Bar Project tenements. The EL was reduced by 50% in August 2009 from 121 to 60 blocks. The Roper Bar project covers an area within the Bauhinia Shelf of the McArthur Basin in north-eastern Northern Territory. The McArthur Basin is an intracratonic platform basin of Palaeo to Mesoproterozoic age with an aerial extent of 180,000 square kilometres. The Roper Bar Project area is located over the Maiwok Subgroup of rocks within the Roper Group sequence on the Bauhinia Shelf of the McArthur Basin. Exploration within the area has concentrated on the Sherwin Ironstone Member of the McMinn Formation within the Maiwok Subgroup. No work was completed over the relinquished blocks during the previous three years of tenure.