Partial surrender report for the period 26 October 2009 to 25 October 2011 EL 27186 Elliott project

Abstract

Exploration Licence 27186 is part of the Elliott Project (ELs 27186, 27187, 27189, 27190, 27544). To meet end of Year 2 50% reduction requirement, a total of 251 blocks was relinquished from EL 27186, leaving the current retained area of 249 blocks. This Partial Surrender Report is for the period 26 October 2009 to 25 October 2011. The Elliott Project, located approximately 6km west of the historic town of Newcastle Waters and 13km west of Elliott, is a sub-project of Vale's Georgina Phosphate Exploration Project and covers Cambrian sedimentary rocks of the Wiso Basin. On the southern margin of the basin, the Cambrian rocks overly strata of the Arunta Block, whilst to the west they unconformably overly basement composed of Early Proterozoic rocks. The project area is flat lying with outcrop interpreted to be Middle Cambrian. Phosphate exploration work on EL 27186 comprised open file literature review; acquisition and reprocessing of geophysical data; acquisition of NRETAS environmental data; regional water bore analysis; flora and fauna desktop study report; inhouse depth to basement gravity modelling; and a regional geophysical basin modelling study by Mira Geoscience. The surrendered area was relinquished due to a lack of priority phosphate targets.