EL 30048 North Batten Project Partial Relinquishment Report 2019 reporting period 3 June 2005 to 2 June 2019

Abstract

EL 30048 forms part of Sandfire's Borroloola project which is located in the McArthur Basin. The McArthur Basin contains volcanic rocks and related intrusive igneous rocks and is a prime target for SEDEX type economic sulphide deposits. The Borroloola project is also prospective for sedimentary manganese mineralisation, similar to the nearby world-class Groote Eyelandt manganese deposit in the Gulf of Carpentaria. Sandfire submitted a partial surrender on 22 May 2019 to relinquish 22 blocks from EL 30048. Approval of the partial surrender was received from DPIR on 14 June 2019. Under the provisions of section 94(2)(e) of the MTA and regulation 86(4) and (5) of the Mineral Titles Regulations 2011 this is a final report relating to the relinquished area of 22 Blocks from EL 30048. Within the period 2005 to 2013, prior to the term of the Joint Venture with MMG, Sandfire undertook one geophysical survey which partially overlaps the relinquished portion of EL 30048 and reprocessed several regional datasets. Subsequently, within the term of the Joint Venture with Sandfire, MMG undertook a further two geophysical surveys across the relinquished portion of EL 30048. These were a NSAMT survey and a Falcon survey. Both surveys provided information as to bedrock and structure within the project area and ultimately it was interpreted that the areas of main interest lie to the west of the surrendered portion of EL 30048.