Relinquishment report for EL 27035 Cararra Bore for the period 1 May 2009 to 30 March 2011

Abstract

A desktop review of the tenement area was undertaken as part of a regional assessment of Mantle's Barkly Project Area during 2007 and into early 2008. This work provided the basis for a program of field reconnaissance during the 4th quarter of 2008, which did not reveal any obvious signs of mineralisation (P, U, base metals) at any potential sites identified by the desktop studies. No field work was undertaken on the Barkly Project between December 2008 and August 2009 as Mantle undertook steps to conserve resources and confirm funding as a consequence of the Global Financial Crisis. During the period late November to early December 2009, a programme of regional reconnaissance drilling completed no drillholes within the relinquished areas. In September 2010, three reverse circulation drillholes (BTRC043, 44, 46) were completed for a total of 135 metres. A total of 135 1-metre split drill samples were collected and submitted for laboratory testing. The results of this work have indicated that the discovery of a large deposit of phosphate mineralisation was unlikely to be present at shallow depth within the relinquished areas of EL 27035.