Year 2 Relinquishment report for EL 30280 McKinlay South Project for the period 15 October 2014 to 14 October 2016

Abstract

EL 30280 is located approximately 100 kms southeast of Darwin. It was granted 15 October 2014 and is 100% owned by Ross Anictomatis. The tenement has outcropping rocks of the Finniss River Group (Burrell Creek Formation) in the middle and southwestern parts of the tenement and the South Alligator Group in the north eastern corner. The area has undergone polyphase deformation, and folding is tight to isoclinal with the fold axes trending north to north-northwest and plunging both to the northwest and south west. A waiver from reduction was submitted and granted at the end of year 2. However due to the covenant not being fully met 11 blocks were required to be relinquished. There was no exploration done by the company on the relinquished ground for the duration it was held. Although the relinquished blocks cover the prospective Burrell Creek formation they were chosen for relinquishment as they were at the tenement edges, distant from the main areas of interest. Also 9 of the 11 relinquished blocks were only partially covered by the tenement and were chosen for relinquishment so minimal ground was lost.