EL 22478 Tenth and final report for the period 10 August 2001 to 9 August 2011

Abstract

This report covers activities on EL 22478 which was granted on 10th August 2001 for a period of six years to Mr Geoff Fanning. The EL was transferred to Exploration and Resource Development Pty Ltd (now Australian Ilmenite Resources Pty Limited) in 2008. The tenement was renewed twice and expired on 9th August 2011. The exploration licence is located about 50km east of Mataranka in the Roper River region of the Northern Territory. The Project lies in the Urapunga Fault Zone within the Bauhinia Shelf of the Proterozoic McArthur Basin. The area is underlain by sedimentary rocks of the Maiwok Subgroup of the Mesoproterozoic Roper Group. The Kyalla Formation in the area has been extensively intruded by sills of the Derim Derim Dolerite. The exploration target has been heavy minerals associated with the weathering and erosion of dolerite sills within the Mesoproterozoic Roper Group. The area has previously been explored for iron ore, base metals and diamonds. Exploration activities undertaken on the EL have included auger drilling, pit sampling, topographic surveys, resource estimation, flora surveys and shallow trenching. The results of this work indicate that the area has potential for economic heavy mineral (ilmenite) deposits. A resource estimate completed in 2003 defined an Indicated Mineral Resource of 39Mt at 4.1% heavy mineral content at the Buka South prospect.