First relinquishment report for AN 495, for period 31 January 2006 to 30 January 2010

Abstract

This document is the first relinquishment report for the tenement Authority North 495 (AN495). It describes work carried out during the period 31st January 2006 to 30th January 2010. Prior to Year 4, AN 495 had been recorded at the Mines Dept as being 2 sub-blocks comprising 6.3km2. This was incorrect as shown on Fig 1 where clearly this tenement comprises 6 sub-blocks. The error was originally generated by the datum shift from '66 to 84'. To correct this anomaly Korab Resources was required to relinquish the four small sub-blocks on the northern and eastern perimeter of the tenement. Only one rock chip sample was collected from the narrow 4 blocks section of land dropped from this tenement. The single sample (# 128866) of Quartz Hematite gossan was from either the Koolpin Formation or Wildman Siltstone. This sample 128866 returned a gold assay of 'below detection limit'. Using an RS-125 Super-Spec spectrometer the sample site was scanned for K, U and Th values. The spectrometer readings from the sample site showed K at 6000ppm, U at 8,5 ppm and Th at 18.7 ppm all of which are regarded as background.