Final surrender report for EL 30689 Little Cone Bigrlyi JV Project 17 July 2015 to 6 July 2018

Abstract

EL 30689 was converted from historical title application MLN 1953 and was granted in July 2015. The tenement covered the historical 'Little Cone' uranium prospect within the Patmungala Syncline, and was originally explored by Central Pacific Minerals NL (CPM) in the mid-1970s. This is a final report covering exploration activities that occurred on EL 30689 during Energy Metals' period of tenure. Initial work included a review of geophysical datasets and compilation of historical mapping and drilling results. A project review in 2016 indicated that the eastern part of the tenement comprised outcrop of non-prospective Kerridy Sandstone and Djagamara Formation; subsequently three eastern blocks of EL 30689 were relinquished (March 2017). In September 2017 Energy Metals conducted on-ground geological reconnaissance over the remaining area targeting weak aerial radiometric features associated with outcropping Mount Eclipse Sandstone. The radiometric features were found to be associated with slightly elevated gamma readings (up to 2x higher than background values) and therefore were deemed to be insignificant. The 'bleached' stratigraphic unit identified as prospective by CPM, and drill-tested in 1974 without success, was located and assessed to be too weathered to host significant mineralisation. In March 2018, following a further review, Energy Metals elected to surrender the remaining four blocks of the tenement due to downgraded prospectivity and EL 30689 was surrendered in its entirety on 6 July 2018.