Charley Creek Partial cancellation report for EL 28866 for the period 21 February 2012 to 29 May 2018

Abstract

The subject tenement originally consisted of 18 sub-blocks when granted on 21 February 2012 to Crossland Nickel Pty Ltd (Crossland) and Panconoz Pty Ltd. The latter entity was purchased by the current JV partner, Essential Mining Resources Pty Ltd. (EMR) in 2016. Crossland holds a 56.28% and EMR 43.72% ownership of the licence. Both companies are wholly owned by Crossland Strategic Metals Limited (Crossland), the Operator of the Charley Creek Project. Crossland / EMR was issued with a Partial Cancellation Notice (Loss of Block Penalty) from the Department of Primary Industry and Resources Mines and Energy (DPIR) on the 27 March 2018. The penalty relates to two consecutive years of underspend on the licence. The number of sub-blocks subject to the cancellation was three (3), from the current total area of eight (8) sub-blocks. On the 8 May 2018, Crossland was notified by DPIR that its request to waive the penalty was refused. Crossland has subsequently notified the department of the three sub-blocks it has chosen for relinquishment. No exploration activities have been carried out within the relinquished area.