EL 27026 First relinquishment report 3 September 2011 to 2 September 2012

Abstract

Ebony Iron Pty Ltd engaged Terra Search Pty to undertake a review to identify the areas likely to be prospective for Iron Ore with the intention of relinquishing the non-prospective regions at the end of the third year. They recommended further investigation of 19 subblocks at Tanumbirini because of a magnetic anomaly which may be a aermag survey artefact or could be a strong magnetic low similar to a pipe like body. They however concluded that the depth of Cretaceous sediments makes the chances of developing an economic phosphate or iron ore deposit unlikely on the remainder of the tenement.