Partial relinquishment report for EL 28403 Ammaroo Phosphate Project 20 June 2011 to 27 April 2016

Abstract

The Ammaroo Phosphate Project is located 240 km southeast of Tennant Creek. The project area contains the 40 km-long, billion tonne Ammaroo Phosphate deposit, which is currently Australia's largest undeveloped JORC phosphate resource, the satellite Ammaroo South JORC resource, the Rockhole Prospect and significant greenfields potential in the east. An updated Ammaroo Phosphate Project prefeasibility has been announced and higher tenure applied for. EL 28403 is in the central eastern part of the tenement package. It is north of, and along strike from, the Ammaroo South resource. Ten blocks in two areas are being relinquished from EL 28403, reducing it to 67 blocks. Three reconnaissance RC holes plot in the northern area relinquished and one in the south. The three northern holes (AARC138, AARC139, AARC140E) were terminated by the geologist on-site at 51 m, 51 m, and 43 m respectively because no significant phosphate was detected using the handheld XRF. As a double check, two-metre composites were taken from selected intervals in these three holes and laboratory analysed by IC4M and IC4P. The maximum P2O5 was only 1.47% P2O5. The fourth hole, AARC136, was terminated at 30 m after having intersected maroon siltstone from surface. This was not the target stratigraphy. No phosphate was detected with handheld XRF and no samples were sent for assay from AARC136. The relinquished area is not prospective for phosphate, at least to the depths tested by drilling.