Partial relinquishment report EL 385 Walker River for the period 9 June 2007 to 8 June 2008

Abstract

Partial consent of the application area resulted in the granting of two separate licences (ELs 385 & 24304) in June 2004. The tenements are located approximately 180km south-west of Nhulunbuy, and 80km north of Numbulwar in south east Arnhem Land and consequently are processed under the Aboriginal Land Rights Act 1975 (ALRA). EL 24304 was relinquished in full on the 4 May 2006. EL 385 has undergone three relinquishments and is now 12% of the original granted area. The tenement is considered prospective for base metal mineralisation, similar to that at McArthur River (HYC) in the McArthur Basin. Subsidiary targets are diamonds. The tenements contain McArthur Group equivalent sediments adjacent to the eastern margin of the Walker Trough. McArthur Group sediments are host to the McArthur River (HYC) lead-zinc deposit located approximately 300km to the south. Stream sediment, soil and gravel sampling was conducted within the relinquished area. The work completed indicates there is not an outcropping base metal deposit within the area relinquished.