EL 30952 Second annual and surrender report 5 November 2016 to 4 November 2017

Abstract

EL 30952 is a part of the original EL 385 application made in 1972 by CRA Exploration Pty Limited (CRAE), the precursor to Rio Tinto Exploration (RTX) who is the current holder. EL 30952, an application in moratorium resulting from EL 385, was granted on 5 November 2015. The tenement is located approximately 180 km south-west of Nhulunbuy, and 80 km north of Numbulwar in south east Arnhem Land and on Aboriginal Land Rights Act 1975 (ALRA) land managed by the Northern Land Council (NLC). The tenement is considered prospective for base metal mineralisation, similar to that at McArthur River (HYC) in the McArthur Basin. In January 2014 Rio Tinto Exploration and DPG Resources Australia Pty Ltd entered into an Earn In and Joint Venture Agreement with DPG managing the tenements. The exploration undertaken by DPG for the sub-blocks to be relinquished has included purchase of World View 2 satellite imagery and a geological review and report was undertaken by David Jones for compliance with the TSX 43-101 reporting requirements. Despite undertaking the above work, DPG has not identified any targets which it considers worthwhile following up, and together with the NLC being unable to organise a work program meeting, DPG has decided to relinquish this tenement.