Partial Relinquishment Report EL 24451 Malawiri Surrounds Ngalia Regional Project 6 February 2006 to 5 February 2020

Abstract

EL 24451 (Malawiri Surrounds) is part of Energy Metals Ltd's 100% owned Ngalia Regional uranium project. The licence is situated approximately 200 km northwest of Alice Springs and 170 km southeast of the Bigrlyi uranium project (Kerr & Liu, 2015). EL 24451 was granted on 6 February 2006. A partial relinquishment of 16 blocks occurred in January 2016. A second partial reduction reducing the EL by 20 blocks was approved on 21 January 2019. A third partial relinquishment of 10 blocks was approved on 6 February 2020. This report covers exploration activities that occurred on the 10-block surrender area during Energy Metals' period of tenure. EL 24451 covers an area of the eastern Ngalia Basin, which comprises mostly Quaternary regolith deposits overlying Cenozoic sediments of the Whitcherry Basin and buried Mt Eclipse Sandstone and other Palaeozoic to Neoproterozoic age units of the Ngalia Basin. The Mt Eclipse Sandstone is host to numerous uranium and vanadium deposits and prospects in the Ngalia Basin and is the main target of Energy Metals' exploration activities. A number of surficial, calcrete-related uranium deposits are also known in the region. Exploration work on the relinquished blocks over Energy Metals' period of tenure included an aerial geophysical radiometric and magnetic survey with interpretation (2007), an AEM survey in 2017 that covered the western edge of the surrender area, EM interpretation in 2018, and a project review (2019). Following the review, an area of 10 blocks on EL 24451 was flagged for surrender due to assessed diminished exploration potential compared with other areas of the eastern Ngalia Basin.