Partial relinquishment report for EL 27987 Ammaroo Phosphate Project

Abstract

EL 27987 is part of the Ammaroo Phosphate Project and the area within the EL prospective for Cambrian phosphate is being retained. The four blocks being relinquished are 'basement' and not prospective for phosphate. Sampling of the only known nearby basement mineral occurrence, Trew Creek, by Adelaide Resources has downgraded the prospectivity of the four blocks being relinquished since no significant lithium, tantalum, tungsten or niobium was found by them immediately adjacent to EL 27987. Furthermore, the blocks being relinquished are almost entirely within the Davenport Ranges Zone of Conservation Significance. This imposes extra conditions on any ground-disturbing exploration. This partial relinquishment was requested in late November prior to Rum Jungle Resources Ltd becoming Verdant Minerals Ltd on 05 December 2016 but only actioned in STRIKE by DPIR on 13 December 2016.