Kurundi Project Second Partial Relinquishment Report May 2010 EL 23937

Abstract

The tenement EL 23937 is located approximately 400kms NNE of Alice Springs and 100km SE of Tennant Creek. The eastern portion of EL 23937 lies on the western edge of Epenarra Station, and the western portion lies on Kurundi Station. The tenement covers the contact between the western Georgina Basin and the Tennant Creek Inlier on the northern side of the Davenport Range. The regional basement rocks are Proterozoic (1870Ma) deepwater marine interbedded greywacke, siltstone and minor porphyritic felsic volcanics of the Warramunga Group which were moderately to tightly-folded about 1810Ma. The Warramunga Group is intruded by members of the Tennant Creek Supersuite. This includes the Hill of Leaders Granite (Pgb) which outcrops extensively in the northwest of the tenement area. The primary Georgina Basin unit present within the project area is the near-basal Gum Ridge Formation which is known to contain phosphate. Exploration activities completed within the relinquished portions of EL 23937 were targeted at uranium, tungsten and phosphate and comprised airborne magnetics and radiometrics survey, reconnaissance geological investigations and rock chip sampling. The work completed failed to define any targets requiring follow-up work. The relinquished portions of EL 23937 are considered to have been adequately tested by the work conducted by Northern Uranium and Washington Resources. The area has low potential for the occurrence of economic mineralisation of the targeted commodities, and has hence been relinquished.