Partial relinquishment report on Pine Creek Project EL 24815 for period 18 April 2006 to 17 April 2010

Abstract

The Pine Creek Project area is located approximately 25 kilometres north west of Pine Creek in the Northern Territory. The project lies within the western portion of the Pine Creek Geosyncline, an Early Proterozoic meta sedimentary sequence underlain by gneissic and granitic Archaean basement. The sedimentary sequence consists of mudstones, siltstones, greywackes, sandstones, tuffs and limestones that have been metamorphosed to amphibolite facies. The sequence is intruded by dolerite dykes and sills and granitoid plutons. The project is considered prospective for unconformityrelated and vein hosted uranium deposits. Exploration activities on the relinquished portion of EL 24815 consisted of a review of existing exploration data, high level targeting utilising reinterpreted regional geophysical data, compilation of public domain geological, geophysical and other digital data, geological mapping and reconnaissance, including ground radiometric traverses, of targets identified, follow up soil sampling and flying of an airborne electromagnetic survey in conjunction with Geoscience Australia. The work completed identified three radiometric anomalies within the relinquished portion of EL 24815, however the ground radiometric traverses and geological mapping failed to confirm the anomalism. A copper occurrence within the McMinns Bluff granite returned rock chip results of up to 3.1% Cu, however follow up soil sampling failed to define any significant anomalism. No targets were identified within the relinquished portion of EL 24815 from the airborne radiometric survey. Exploration completed on the relinquished portion of EL 24815 downgraded the prospectivity of the regional radiometric anomalies and the copper occurrence within the McMinns Bluff granite, therefore no further exploration activity is recommended.