EL 26833 North Batten Project Partial Relinquishment Report for period 9 June 2009 to 9 June 2019

Abstract

EL 26833 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 7 blocks from EL 26833. 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 7 Blocks from EL 26833. Within the period 2009 to 2013, prior to the term of the Joint Venture with MMG, Sandfire dominantly focussed on the retained portion of EL 26833 where drilling was undertaken. Subsequently, within the term of the Joint Venture with Sandfire, MMG collected 12 stream sediment samples across the relinquished portion of EL 26833 in 2014-2015. The samples were analysed at both coarse and fine fractions to assess for proximity and homogeneity indicators. Samples taken from the relinquished portion of EL 26833 did not exhibit anomalous geochemistry in any of the elements analysed. Ultimately it was interpreted that the areas of main interest for the tenement lie within the retained portion of EL 26833.