Partial relinquishment report, Playford River EL 27665

Abstract

NRE completed two (2) reconnaissance helicopter assisted field trips of the Barkly Project, one in July 2010 and the other in October 2010. NRE introduced themselves to local landholders, assessed a number of field targets across the tenement and carried out geological mapping of the project area. The field trips proved successful in evaluating the tenements in the most effective and timely manner possible. Geological characteristics were recorded at each site and bulk surface samples were collected. Two (2) samples were collected from within the relinquished area. NRE has been able to successfully analyse the work conducted in the first term and integrate and collate the results of the specialised phosphate study with all available geological, geophysical and drill and bore hole data and was able to characterise the stratigraphic relationships pertaining to phosphate mineralisation to identify the most prospective areas within its Barkly Project tenures. In relation to the relinquished area, NRE has concluded that the potential for mineralisation within this area is much lower than the remaining tenement area.