Partial relinquishment report for EL 26628 and EL 29828 GR386 Tanami Altura JV Project from 1 March 2013 to 28 February 2017

Abstract

The relinquished blocks were part of exploration Licences 26628 and 29828 which form ABM Resources NL's (ABM), 'Tanami Altura JV' project. The project is located approximately 600 km north-northwest of Alice Springs in the north Tanami Region of the Aileron Province (Figure 1). In June 2015 ABM entered an option agreement with Altura Exploration Pty Ltd. (Altura) which provided for ABM to acquire a 90 percent interest in EL's 26628 and 29828 and establish a joint venture with ABM as manager. ABM is exploring the 'Tanami Altura JV' project for the potential of gold mineralisation. EL 26628 and EL 29828 were due for partial relinquishments as part of statutory requirements at the end of the fourth year of tenure. No on - ground exploration was completed on the surrendered area. Exploration consisted of desktop studies including the integration of geophysical and geological data, GIS data management, regional mapping and target generation. The mapping resulted in a regional basement geology map which included the project area. The map represents a merger of NTGS and ABM interpretation at a 1:500,000 scale. The relinquished areas EL 26628 were selected due to the absence of geochemical anomalism and above are thought to have both Antrim Plateau Volcanics and Canning Basin cover over prospective lithologies. The relinquished areas EL 29828 were selected due to the absence of geochemical anomalism and above are thought to have significant Canning Basin plus partially Antrim Plateau Volcanics cover over prospective lithologies.