Epenarra Project, Combined annual report for the period 1 January 2012 to 31 December 2012

Abstract

During 2012 publicly available regional data sets such as aeromagnetics, radiometrics, gravity, geological mapping and known regional mineralisation were reviewed. Interpretation and analysis of this data has prioritised initial targets and prospective areas which warrant on-ground investigation. The review and interpretation has also guided the surrendering of less prospective tenement areas, and tenements where it has not been possible to complete the proposed mapping, sampling or drilling activities that were scheduled. A fifty percent reduction on EL 27554 tenement holding was due before work was completed on the ground. Despite the prospectivity for economic phosphate mineralisation, as indicated by the data review and compilation, the areas covered by tenement EL 26776 and EL 27072 effectively remain untested. Due to Northern Minerals focus on other commodities, the tenements have been surrendered.