Partial relinquishment report for EL 23884 Barrow Creek Project from 10 October 2006 to 9 October 2015

Abstract

The relinquished area of EL 23884 formed part of the ABM Resources NL (ABM) Barrow Creek project which currently comprises Exploration Licenses 8766, 23880, 23883, 23884, 23885, 23886, 25031, 25033, 25034, 25035, 25041, 25042, 25044, 26825, 28515, 28727, 28748, 29723, 29724, 29725 and 29896. The Barrow Creek project is centered approximately 320km NNW of Alice Springs in the North Arunta region and stretches for 236km west to northwest of the town of Barrow Creek (Figure 1). These tenements form the GR162 technical reporting group. The tenement area was selected as it was included in Newmont's Tanami Regional Framework study which highlighted the prospectivity of the area. ABM explored the tenement for the potential of gold mineralisation. Exploration included wide spaced systematic reconnaissance surface sampling (26 soil samples), a helicopter borne gravity survey, regolith mapping, an aeromagnetic survey and the interpretation of the data into a regional geology map and a second project wide reprocessing of comprehensive aeromagnetic data and its integration into a compilation of a basement geology map. The best surface sample gold assay returned was 0.00142 ppm Au from TB00631. The partial relinquishment in respect of 11 of the 83 blocks comprising EL 23884 was lodged to take effect for the tenth year of term commencing 10 0ctober 2015. The relinquishment of 11 blocks represented a 13% reduction of the tenement area. A review of ABM's Barrow Creek tenement situation and Barrow Creek project data lead to the following rationale and determined the selection of blocks to be relinquished: The cost per block is relatively high due to the age of the tenement; The far northern edge of the tenement is covered by deeper transported cover; and No geochemical response is present over the relinquished blocks..