Final surrender report EL 24453 Bigrlyi Surrounds Ngalia Regional Project 6 February 2006 to 28 March 2018

Abstract

EL 24453 (Bigrlyi Surrounds), and its successor EL 31821, are part of the 100% owned Energy Metals Ltd (EME) Ngalia Regional Project situated approximately 360km northwest of Alice Springs and surrounding the Bigrlyi uranium project (Kerr and Liu, 2015). EL 24453 was granted on 6 February 2006. A partial reduction (reducing the EL by 85 blocks) was approved on 8 January 2016. A further partial reduction (reducing the EL by 32 blocks) was approved in conjunction with an amalgamation of EL 24453 with adjacent titles on 29 March 2018. The amalgamated title EL 31821 came into effect on 29 March 2018 and EL 24453 ceased on the same date. This report is a final report covering exploration activities that occurred on the surrendered areas of former EL 24453 during Energy Metals' period of tenure. The tenement covers Neoproterozoic to Palaeozoic units of the Ngalia Basin together with adjacent areas of granitic and metamorphic basement of the Aileron Province. The Vaughan Springs Quartzite (basal Ngalia Basin) crops out along the prominent Treuer Range in the western part of the tenement, and in plateau country to the southeast. The Carboniferous Mt Eclipse Sandstone and underlying older Palaeozoic Ngalia Basin formations, some under thin regolith cover, occupies most of the tenement area. Exploration work on the relinquished blocks over Energy Metals' period of tenure included ground reconnaissance surveys, several heritage surveys, an aerial geophysical radiometric and magnetic survey with interpretation (2007), a ground radiometric survey (2008), several Gradient Array IP (GAIP) surveys (2013), a drilling program (2013) and project reviews in 2015 and 2017. Following the 2015 review, parts of the tenement were considered to be non-prospective for uranium and were relinquished in 2016 (Taylor, 2016). The GA-IP surveys were carried out during 2013 over two prospective areas (Bigwest and A15 Far East prospects) within relinquished parts of EL 24453. The identified IP chargeability anomalies were subsequently drill tested. At Bigwest prospect the IP anomalies corresponded to uranium mineralisation on the Unit B-C contact of the Mt Eclipse Sandstone (refer Fidler et al., 1990 for informal unit descriptions), which led to the estimation of an initial mineral resource for this prospect in 2015. At the A15 Far East prospect no mineralisation was detected due to the absence of the prospective, reduced Unit C of the Mt Eclipse Sandstone. Other relinquished areas consist dominantly of granitic and metamorphic basement, Vaughan Springs Quartzite hill country and areas of oxidised Mt Eclipse Sandstone assessed as having low uranium potential.