Partial relinquishment report for the period 4 March 2010 to 3 March 2012

Abstract

EL 27544 is part of the Elliott Project (ELs 27186, 27187, 27189, 27190, 27544). To meet the end of Year 2 50% relinquishment requirement, 157 blocks were relinquished from EL 27544, leaving the current retained area of 156 blocks. This Partial Relinquishment Report is for the period 4 March 2010 to 3 March 2012. The Elliott Project is located approximately 6km west of the historic town of Newcastle Waters and 13km west of Elliott. 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 27544 comprised open file literature review; acquisition and reprocessing of geophysical data; regional water bore analysis; flora and fauna desktop study report; in-house depth to basement gravity modelling; and a regional geophysical basin modelling study by Mira Geoscience. No priority phosphate targets were identified on the relinquished area.