EL 27663 Annual and final report to 19 February 2016

Abstract

Exploration Licences 27625 and 27663 located approximately 300km east of Alice Springs were granted in July 2010 initially targeting copper and zinc mineralisation which was identified by Australian Geophysical in the 1960?s. Additional work was carried out in the area by Poseidon Exploration, Normandy Poseidon and later by Rio Tinto Exploration Pty Ltd. Examination of available data, including drill core for BMR Illogwa Creek No. 6, and field mapping and sampling failed to reveal further mineralisation in the Bitter Springs formation overlying the Heavitree Quartzite. EL's 27663 and 27625 are centred on the SE-plunging Limbla Syncline in the eastern Amadeus Basin. The syncline has a distinct topographic and magnetic expression. The central area of the syncline was sampled for heavy minerals to determine if there was any surface indication of mineralisation at depth, or indications of kimberlitic intrusions. Further sampling of drainage and trap sites around the around the centre of the syncline, and analysis of the heavy mineral concentrates revealed significant number of garnets and magnetite, but no indicator minerals for kimberlites. No further work will be undertaken and the area will be relinquished.