Partial relinquishment report on exploration activities over EL 26114

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 January 2012 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.