Partial relinquishment report for EL 29608 11 March 2013 to 10 March 2016

Abstract

Exploration Licence 29608 (the licence) is located approximately 75km South-South-East of Borroloola and has an area of 586 square kilometres. The area comprises of the Georgina Basin which is known to host various commodities, which include phosphate, lead-zinc deposits, diamonds, base metals, manganese and hydrocarbons. Oceanic acknowledged that work conducted has not been substantial since grant of the licence and will not be substantial in the near future. Therefore, Oceanic voluntarily reduced 89 blocks from the licence in March 2016. This will allow Oceanic to focus on the more prospective ground for the future years. Nil data was collected for submission to the Department on the relinquished blocks since the licence was granted.