Annual and final report EL 29652, 801 Project, for period ending 18 September 2013

Abstract

EL 29652 was granted to Jacaranda Minerals Ltd (JML) and Minerals Australia Pty Ltd (MAPL) on 18 September 2012 for a period of six years. JML and MAPL are partners in the Jacaranda Alliance Joint Venture (JAJV). The area of EL 29652 is the western half of the extended area originally applied for as EL 23767 which was granted as two separate, contiguous ELs. In July 2013, consulting geologists SRK Australia carried out a detailed geological assessment of the exploration potential of the area of EL 29652 and the adjacent EL 23767. SRK's study included geological modeling and interpretation based on available government geophysical data and results of previous drilling in the region, including core drilling by JML and MAPL in the adjacent EL 23726 in 2008. It is concluded that there are no obvious, viable targets, achievable at reasonable exploration cost for base or precious metal mineralisation in EL 29652 and consequently it is recommended to surrender this exploration licence.