Surrender report for EL 26777 for the period ending 13 January 2017

Abstract

The Frazers North Prospect (EL 26777), of the Acacia Project Area, consisted of the granted exploration licence covering 6.2 sq. km (4 Blocks) located about 50 kilometres south east of Darwin, NT. The surrender report covers the relinquishment of the final 4 blocks of the tenement. The project area was 100 percent owned by Acacia Minerals Pty. Ltd. a subsidiary company of Equator Resources. Thomson Aviation, based in Griffith NSW, carried out a Fixed Wing Geophysical Survey of a total of 3,101 line km near Humpty Doo, NT. The survey covered all Acacia Minerals tenements in the area. No other exploration was conducted on the relinquished block during the tenure life. The surrendered blocks that comprise EL 26777 was such a small portion of the total tenement area forming the GR284-13 Group, no work was conducted and although potential exists within this area it is difficult to make conclusions and recommendations over the surrendered area.