Exploration licence 24307 Towns River annual report for year one ending 5 July 2006

Abstract

EL 24307 encloses an area of 280 sqkm, located in the Gulf of Carpentaria, Northern Territory. Geologically, licence area is covered by the Mesoproterozoic McArthur Basin. It is underlain by shallow marine clastic sediments of the Roper Group, which form low hill ranges in the south, and by poorly exposed carbonate rocks of the older Nathan Group (Balbarini Dolomite) in the northern areas, which are largely covered by quaternary superficial deposits of the Towns River. Mineral potential for iron ores is seen in sedimentary oolitic hematite beds in the Sherwin Ironstone Member of the Roper Group, and for the base metals in the Balbarini Dolomite. Some possible potential for manganese, uranium, diamond can also be envisaged.