First and final report exploration on EL 28823 for the year 11 December 2011 to 10 December 2012

Abstract

Nineteen widely-spaced reverse circulation holes drilled into the Cretaceous Bathurst Island Formation in the Dundee District of the Top End of the NT failed to intersect significant amounts of the green clay-like potassium-bearing mineral, glauconite. From the results of earlier nearby drilling, this mineral was known to be widely and fairly continuously distributed in the district. It is formed in shallow marine situations from the diagenetic alteration of biotite derived from granites and gneisses. However, the Cretaceous rocks on EL 28823 are too thin to permit that process to have taken place there. No further work is warranted. The tenement has been surrendered.