EL 26969 First relinquishment report 3 September 2009 to 2 September 2012

Abstract

Terra Search have reviewed the data sets available for EL 26969 and the surrounding area on the basis of aeromagnetics , airborne radiometrics, Google Earth satellite imagery, geology, gravity and water bore drill results. The aeromagnetic data over this tenement shows a large proportion of it is underlain by Cambrian basalt. Water bores show that there is no real potential for Roper type iron deposits to occur at economic depths under the basalt. Phosphate potential appears limited as almost all Cambrian lithologies are logged as massive limestone of the lower Tindal Limestone. Terra Search identified an area of 113 subblocks which warrant further exploration. The remainder was recommended for relinquishment. The area recommended for relinquishment (360 sub-blocks) is dominated by Tindall Limestone and thick basalt flows.