Partial relinquishment report on exploration activities over EL 26115 Mataranka Uranium-Base Metal and Limestone project

Abstract

This report describes the results of literature research and target generation based on re-interpretation of magnetic/radiometric data carried out during the third year of the Licence. During July 2011 consulting geologists Kastellco Geological Consultancy conducted a review of existing historical exploration data within the Northern Territory Geological Survey Database. This was conducted for all the Project area to identify any high potential base-metal and uranium exploration targets and resulted in the identification of several targets that warrant further work. Based on the review a total of 50% of the tenement was to be relinquished based upon more favorable radiometric targets within Exploration Licence area.