Year 2 Annual and final, 3 May 2011 to 24 April 2013, Eagles Nest EL 28278

Abstract

Natural Resources Exploration (NRE) has carried out a detailed geological assessment of its Eagles Nest Prospect, EL 28278. Based on the exploration activities conducted on EL 28278, NRE made application to the Department to completely surrender the entire title for EL 28278 under section 103 of the Mineral Titles Act. EL 28058 was surrendered on 24 April 2013. NRE's exploration rationale and objectives for its Eagles Nest Prospect considered the evaluation of potential gold and phosphate mineralisation. Investigations were intended to locate any outcropping of mineralisation and any indicators of any sub-surface mineralisation within the tenement. NRE carried out a preliminary helicopter program over EL 28278, collected rock chip samples, conducted preliminary geological mapping across the tenure and carried out detailed desktop studies over the tenure and region generally. All these activities were conducted with the aim of delineating targets for base metal and phosphate mineralisation. This combined Annual and Final Report for EL 28278 offers a summary of the activities carried out over all of the title area up to the time when the title ceased to be in force, including any results produced by those activities. NRE believes that there is no rehabilitation required in relation to EL 28278 as no work involving land disturbance has been carried out during the term of the licence.