Partial relinquishment report for EL 27566 Suplejack Tanami Project from 6 April 2010 to 6 April 2016

Abstract

The relinquished area of EL 27566 formed part of the ABM Resources NL (ABM) Suplejack project. The project is located approximately 700 km NNW of in the northern portion of the Tanami Desert. The project comprises nine granted Exploration Licences - EL 9250, 26609, 27812, 26619, 27125, 27126, 27566, 27979 and EL 28333. ABM explores the tenements for the potential of gold mineralisation. The application for EL 27566 was pursued due to its strategic location on a geological trend between the Crusade Prospect to the north and the Groundrush deposit to the south. Its close proximity to the Crusade open pit and the renewed activity in the area by other explorers makes the tenement particularly prospective. The tenement remains geochemically poorly tested by the historical geochemical sampling and the assay data of a 567 PHRAB historical drill program which has to be sourced from public data once available. The stratigraphy includes the Nanny Goat Volcanics, which are the host for mineralisation at the Crusade and Kokoda prospects to the north. During the reporting period no on ground exploration was conducted on the surrendered area as ABM focused exploration activities on other areas of the Suplejack project and on mining activities at the Old Pirate Gold Deposit at its Bonanza project. In accordance with Section 29 of Mineral Titles Act (requirement to surrender 50% of the blocks at the sixth anniversary of tenure) ABM relinquished 37 of the 75 blocks of EL 27566. The relinquished area was selected due to no or limited geochemical response over areas deemed less prospective based on their geophysical signature.