Partial surrender report Borroloola Project EL 24401 Year 6, 3 June 2005 to 2 June 2011

Abstract

This partial surrender report details mineral exploration conducted on thirty graticule blocks surrendered from Borroloola Project EL 24401 at the sixth anniversary on 2 June 2011. Sandfire Resources NL acquired the tenement from Finching Pty Ltd on 5 June 2007, and considered the area surrendered to have been prospective for base metals: copper, lead and zinc, and manganese. Prior activities undertaken by Golden Cross Operations on EL 24401 during its first two years in an agreement between Finching Pty Ltd and Golden Cross Resources NL were photogeological interpretation and sampling for diamond indicator mineralogy. During the period of tenure by Sandfire Resources NL up to the date of partial surrender, exploration activities targeted potential for both base metals (copper, lead and zinc), and manganese. Specific activities were: review and collation of historical surface geochemistry, geophysics and drilling datasets, project - wide re-processing of historical airborne magnetics - radiometrics surveys, the acquisition, processing and interpretation of an airborne TEMPEST Geophysical Survey, and the acquisition of digital aerial photography.