Surrender report for the period 25 May 2015 to 24 February 2017 EL 27686 Kombolgie 3

Abstract

Rio Tinto Exploration Pty Ltd applied for EL 27686 (the Tenement) on the 5 October 2009 to explore for unconformity hosted uranium; it was believed to be prospective for the following reasons: Its position in the Alligator Rivers uranium prime terrene; Prospective geology of the Middle Proterozoic Kombolgie Sub Group, preserving the unconformity; Proximity to regional faults which may control mineralisation; and Limited previous exploration due to difficult access conditions. The tenement was granted on the 25 May 2015. A small sampling program had been envisaged in conjunction with work programs on adjacent tenure. However, programs on surrounding applications have not yet been granted and budgetary constraints inhibited a standalone field program on this tenure. As such, no fieldwork has been undertaken since the Tenement has been granted. A desktop project review occurred during the final reporting period. The tenure conditions required a 50 percent reduction by 25 May 2017. Given the low prospectivity and challenges of access, the decision was made to surrender the Tenement in full.