Partial relinquishment report for period ending 3 April 2013

Abstract

EL 28285 Lyndavale West initially covered 327 Blocks, but now represents 161 Blocks with the relinquishment of 166 Blocks. The tenement is located within the Amadeus Basin, approximately 250 km south-west of Alice Springs, Northern Territory. Within the relinquished area the project was targeting major sandstone hosted uranium in areas not previously recognised or thoroughly evaluated for uranium mineralisation. No on-ground exploration was conducted within the relinquished area. Desktop based assessment of historic data looking for structural and stratigraphic traps for uranium associated with helium gas was conducted. These assessments have failed to provide any primary leads of potential helium related uranium exploration within EL 28285, particularly the lack of seismic data making this avenue of research more difficult to pursue. As a result areas were relinquished.