EL 26835 North Batten Project Partial Relinquishment Report for period 9 June 2009 to 9 June 2019

Abstract

EL 26835 forms parts 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 76 blocks from EL 26835. Approval of the partial surrender was received from DPIR on 18 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 reduced area of 76 Blocks from EL 26835. Within the period 2009 to 2013, prior to the term of the Joint Venture with MMG, Sandfire undertook soil sampling, geological mapping and drilling of two RC drill holes at the North Tawallah Range 1 prospect on the relinquished portion of EL 26835. The style of mineralisation sought at this target was disseminated 'Red Bed' copper sulphides hosted by sandstones. The concept was based upon the known occurrence of copper minerals within the Tawallah Group Sandstones. Drilling intersected red-purple micaceous siltstones and fine to medium sandstones. Neither of the drill holes detected visible copper mineralisation or anomalous assays. Subsequently, within the term of the Joint Venture with Sandfire, MMG collected 34 stream sediment samples across the relinquished portion of EL 26835 as part of a regional program. Ultimately it was interpreted that the areas of main interest for the tenement lie within the retained portion of EL 26835.