EL 26543 Millionaires Well Central Final report for the period 9 July 2008 to 8 July 2014

Abstract

The tenement was granted to Uramet Minerals Limited (now Intercept Minerals Ltd) on the 9th July 2008. Work to date within the surrendered tenement from time of grant until surrender includes a literature search of open file reports and other available data, a 500m spaced ground gravity survey, field reconnaissance and rock chip sampling. The historical workings at Millionaires Well, along with check assays by Uramet and others confirm the presence of tungsten mineralisation occurring within certain quartz vein sets within this area. The area of historical workings occurs within outcropping Palaeoproterozoic granite close to an interpreted contact with Bullion Schist of the Arunta basement. The areas along strike of, and to the north of the old workings are sand covered, therefore there is potential for strike extensions of the mineralisation, and possible repeats to the north. A review of available data along with field reconnaissance failed to define any high priority exploration targets within the surrendered area, hence the tenement being relinquished.