Partial relinquishment report on exploration activities over EL 26551 East Alice Springs project

Abstract

During the term, the work was restricted to a study of open files available at the Northern Territories Department of Mines & Energy. The open file study demonstrated that there was some significant potential for uranium, base metals and phosphate in the area. In February 2009 Kastellco Geological Consultancy Ltd (KGC) was contracted to conduct a desktop study over the area and to make recommendations on a follow-up exploration programme for the following year. During the month of March 2011, a review of re-processed and re-interpretation of magnetic and radiometric data from the Northern Territory Geological Survey Database was undertaken. The geophysical images were processed by Asis International Pty Ltd for use in identifying exploration targets for uranium, base metals, tungsten and tantalum. Several first-order and second-order radiometric targets were identified which had not been previously examined by historical field programmes.Historical regional data was also reviewed to determine the effectiveness of previous exploration and evaluate remaining potential. A total of 50% of the tenement was to be relinquished based upon more favorable radiometric targets in the eastern portion of the Exploration Licence area.