EL 30229 Final report for the period 25 November 2014 to 10 January 2017

Abstract

This report covers the period of tenure from 25 November 2014 to the 10 January 2017 on the subject licence held and operated by Australian Minera Resources Pty Ltd (AMR). The licence was applied for in December 2013 for its potential to contain magnetite-rich iron ore deposits, it was granted to AMR in November 2014 and was surrendered on 10 January 2017. EL 30229 Scrub Dam is located just to the north of Alice Springs and sited on one of the largest and strongest magnetic anomalies in the NT, the North Australian Railway passes along the western edge of the EL, and the Stuart Highway is adjacent. The area is only 40 km north of Alice Springs, but on pastoral land which should have reasonable access. Since the obtainment of the title, AMR conducted its consultant Mr. Geoff Eupene from Eupene Exploration Enterprises has done some necessary paper research work and undertook a Geophysical Mag and Rad airborne survey of 812.4 line km covering the whole tenement, and follow up geophysical interpretation was completed with a timely manner to achieve a better understanding of the tenement and further exploration plan. Because of the policy change of the company, no activity was undertook in the 2nd year of tenure. Although there are potential targets for further exploration based on the interpretation and analysis of the available data, considering the iron ore market and hard situation of the whole industry, AMR decided to focus limited funds on the more valuable tenements and relinquish this title, the relinquish was approved by the department on 10 Jan. 2017.