Combined third annual and final report for the period 23 October 2009 to 2 November 2012, Elliott Project EL 27186, EL 27187, EL 27189, EL 27190 and EL 27544

Abstract

The Elliott Project, located approximately 6 km west of the historic town of Newcastle Waters and 13 km west of 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. Previous work by Vale on Elliott included rock chip sampling and RC drilling in 2010 on ELs 27187, 27189 and 27190. A geophysical basin modelling study done in 2011 was used in conjunction with 2010 drill results to gain a better understanding of the Georgina Basin and assist with phosphate drill targeting. As a result, 8 RC holes were drilled in 2011 on ELs 27187 and 27190. Phosphate exploration work on Elliott in 2012 consisted of focused drill targeting, however a suitable agreement could not be reached with the Newcastle Waters station owners and no drilling was completed. Geophysical basin modelling, drill hole data, distance from the Adelaide-Darwin railway, shelf morphology and 'Vale size' phosphate ore body geometries were considered and the decision made to surrender the Elliott tenements.