Partial relinquishment report for EL 28748 Barrow Creek Project from 3 October 2011 to 30 October 2015

Abstract

The relinquished area of EL 28748 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 a project wide reprocessing of comprehensive aeromagnetic data and integration into an interpretive basement geology map. EL 28748 was due for a statutory 50% partial relinquishment prior to the end of the 4th year of term (30 October 2015) The relinquishment of 63 blocks represented a 47% reduction of the tenement area. A review of data revealed the following conclusions, and lead to the selection of blocks to be relinquished. The majority of the magnetic data available is of poor detail and did not show any immediate targets. NTGS open file interpreted geology maps suggest a Georgina Basin cover sequence of unknown thickness, which in turn suggests that if any targets can be identified, they would be at a significant depth. The geochemical data available is poor and is not expected to be upgraded with additional sampling.