EL 27876 Walabanba Project Surrender report 2 August 2010 to 15 August 2014

Abstract

Enigma took out the JV agreement with a view to exploration for primary base metal sulphides, nickel and magnetite hosted vanadium-titanium, as found in the Mount Peake Fe-V-Ti deposit to the east. Review of historical geochemistry, drilling and geophysics in the area resulted in a HELITEM survey being undertaken across specific areas in August 2012. One target area was identified within EL 27876. Field assessment of this target was completed in October 2012, though due to transported cover no geochemical sampling was undertaken and there is currently no geochemical or geological support for the anomaly. A review of all projects and tenure carried out during late 2013-2014, and based on all previous exploration within the area has resulted in EL 27876 being given a low priority for follow-up. It has been decided that exploration expenditure is better spent elsewhere and the licence has been surrendered as of 15 August 2014.