EL 32128 Annual Report for the period 12 December 2019 to 11 December 2020

Abstract

EL 32128-Ongeva Creek was granted to Yacimiento Pty Ltd for a term of six years commencing 12 December 2020. Located 100km northeast of Alice Springs in southern Northern Territory, the EL comprises 50 sub-blocks and straddles the Irindina and Aileron Provinces of the Arunta Region. The EL was selected because of its rear earth elements (REE) potential associated with pegmatites and metasomatic zones that were identified by an earlier explorer. The minimum exploration target is 10-20 Mt > 5% REE. Exploration during the reporting period involved a review of historical exploration and construction of a GIS database. The purpose of the review was to understand the mineralising events and processes (at a regional and local scale) to help identify areas within EL 32128 with potential for economic REE mineralisation. The review also involved an examination of airborne magnetic and radiometric datasets and CSIRO's ASTER multispectral imagery. The review showed the project area had been explored by numerous companies since the early 1970s. The companies targeted various commodities including gold, copper, base metals, PGE, diamonds, uranium, gemstones and industrial garnets. The historical exploration mostly involved rock chip, soil and stream sediment sampling, geological mapping, petrology, and aeromagnetic and hyperspectral interpretations and RAB drilling. The most significant work undertaken was by Barfuss Corporation Pty Ltd (Barfuss Corp.), while exploring EL 25430 during 2006-11. They located broad zones of anomalous REE geochemistry ranging up to 7% REE in the Spinifex Gully area in the south-eastern part of the EL. The anomalous geochemistry coincides with several pegmatites and metasomatic zones that produce strong airborne radiometric (Th and U) responses. An examination of the regional airborne magnetic and radiometric datasets did not locate any new exploration targets or significant zones of alteration. An examination of CSIRO's ASTER multispectral datasets similarly failed to detect zones of hydrothermal alteration that might be related to REE mineralisation. During the reporting period, no fieldwork was undertaken because of COVID-19 restrictions. No areas with potential for economic resources of REE mineralisation were identified in EL 32128 during the reporting period, and it is proposed the EL be surrendered.