Partial relinquishment report 2015 EL 24524 20 April 2009 to 19 April 2015

Abstract

Two drilling campaigns and various ground reconnaissance programs have been conducted in order to search for sedimentary manganese mineralisation associated with condensed sections deposited within the late cretaceous sediments of the Yirrkala and Walker River Formations. Analogous deposits are found on Groote Eylandt 200km east in the Gulf of Carpentaria. During the lease tenure, 2 Aircore holes an 8 RC holes were drilled and drill cuttings were submitted for XRF analysis. Regional studies in the area combined with historic occurrence data and information obtained from this and other exploration projects in the area have been used to develop a geological model for mineralisation for the region whereby manganese occurs as a matrix within the basal sediments of the Walker River Formation. Secondary alteration and tropical chemical weathering however has remobilised and removed much of the mineralisation replacing it with Fe oxides. The model and drilling suggests that the area flagged for relinquishment is too low in the stratigraphic profile and the likelihood of locating sufficient economic quantities of manganese is very low. GEMCO will therefore not seek to renew this portion of the lease.