Part Annual and Final Surrender Report on EL 30225, Burge Bore Phosphate, 15 May 2019 to surrender

Abstract

EL 30225, Burge Bore Phosphate Project, is a stand-alone EL in the Wiso Basin that straddles the Central Australian Railway, 210-220 km northwest of Tennant Creek. It is held to explore for Cambrian rock phosphate. Verdant Minerals Ltd undertook an in-house assessment of the waterbores in the general area and a reappraisal of previous work by CSIRO and Vale. This led to the voluntary partial relinquishment of 55 blocks before the first anniversary. 108 blocks were retained. Drill targets were selected and refined in the following years. During the 2019 field season, six RC holes (BURC001-6) of a planned nine hole program were drilled for a total of 214 m, averaging 35.6 m. Logistics necessitated the relocation of several of the planned holes to less-prospective sites and some proposed sites were not drilled. The shallowest hole was 23 m and the deepest 50 m. Some holes were terminated prematurely because of difficult drilling or when groundwater was encountered. Samples were collected every metre downhole. None of the holes intersected phosphate as determined by hand-held XRF to the depths capable of being achieved with the rig used and no samples were analysed in a laboratory. In the opinion of Verdant Minerals management, EL 30225 has been adequately tested. The EL is being surrendered in full.