Final surrender report EL 27631 and EL 27632

Abstract

Universal Splendour Investments (USI) was granted exploration licenses EL 27631 and EL 27632 in June 2010. These licences are located in the northern region of the Northern Territory, approximately 150km east of Katherine and 360km southeast of Darwin. They are collectively referred to as the McArthur Project area, and were been granted group reporting status under the name McArthur and number GR 229/11. In June 2013, both EL 27631 and EL 27632 were surrendered in full. This is the Final Report for the relinquished tenements, detailing all work completed by USI since June 2010. In 2010, International Geoscience conducted a full background review for the McArthur Project. Stream sediment sample assays from the NTGS database within the exploration licence showed signs of high Mn values which appeared to be associated with Proterozoic rocks. Evidence of Pb/Zn mineralisation, particularly the SEDEX style of the McArthur River type was found by reviewing the NT geochemical database. Three Pb/Zn mineral occurrences were identified within the McArthur project area. Within the 2011 field season one field visit was undertaken in June to identify access to the tenements, collect rock samples and visit the Pb-Zn occurrence (Wongalara). Unfortunately Wongalara was inaccessible by 4WD due to very wet conditions. In May 2012, both EL 27631 and EL 27632 were reduced by 50% as requested by NTGS guidelines. A subsequent field visit was undertaken in June 2013. A number of sites on both tenements were visited, including 2 of the 3 listed Pb/Zn occurrences. No direct evidence of the Pb/Zn mineralisation was found, however manganese alteration along fractures was observed at the site of the Wongalara occurrence. Following the field visit in June 2013, the decision was taken to surrender both tenements in full.