EL 24196 Bowgan Project Final Surrender Report

Abstract

The Bowgan project is located in the Barkly Tablelands region of Northern Territory, approximately 250 km northeast of the regional centre of Tennant Creek. The project consisted of five licences in total; EL 24196 (Creswell Downs), as well as four contiguous exploration licences; EL 24115 (Bowgan), EL 24195 (Benmara), EL 29802 (Benmara East) and EL 30281 (Coanjula) located approximately 100 km further east and reported on separately. Exploration at the Bowgan project is currently targeting the potential occurrence of economic uranium, gold and base-metal mineralisation. Since the original tenement grant in 2004, exploration has been conducted in a continuous manner on EL 24196 with 12 blocks from the originally granted 79 blocks being retained. Exploration of a number of conductors has confirmed potential for economic uranium however, geophysical modelling has interpreted a target depth of >200metres below surface. Targets were considered to have a low exploration priority as a consequence. In November 2019, a final decision was made by the current operators Walhallow Creek No2 Pty Limited to cancel a proposed program of drilling and surrender the remaining portion of the tenement.