Charley Creek North-East Project Partial Relinquishment Report EL 33000, 09 August 2022 to 22 August 2024

Abstract

The relinquished portions of Exploration License (EL) 33000 are located within pastoral lands of Aileron, Amburla, and Yambah Stations, approximately 100-130 km north-northwest of Alice Springs. This region benefits from Alice Springs' infrastructure, including transport routes and services that support exploration activities. Geologically, EL 33000 spans a diverse area comprising Quaternary aeolian, colluvial, and floodplain sediments, underlain by Tertiary cover and punctuated by outcropping Middle Proterozoic granites, granodiorites, and quartzite formations within the Hann Range and surrounding Aileron Province. These formations provide a favourable setting for multiple mineral deposit styles. The area is considered prospective for a range of commodities, including rare earth elements (REEs), uranium, base metals, and precious metals. Specific targets include palaeochannel-related calcrete and redox-style uranium, alluvial REEs, and polymetallic systems associated with granitic and metamorphic complexes. The Hann Range, with its rugged, steep-sided hills and ferruginous quartzite, has influenced sediment deposition into the Ngalia Basin, contributing to the development of coarse-grained units at its base. Exploration activities within EL 33000 have been limited by logistical challenges, including dense vegetation, rugged terrain, and the designation of certain areas as Northern Territory Aboriginal Sacred Sites. Despite these constraints, desktop studies, reconnaissance fieldwork, and regional geological reviews highlighted the mineral potential of the area. Notably, the southern part of the tenement was identified as prospective for sedimentary uranium deposits following aero-electromagnetic (AEM) surveys conducted by previous explorers. Proximity to significant mineral occurrences further underscores the region's potential. Arafura Resources' Nolan's REE deposit, a world-class resource, lies 15 km north of EL 33000's boundary. Nearby, the Napperby uranium deposit and base metal occurrences within the Ngalia Basin, along with anomalous nickel and base metal grades along the Hann Range, highlight the area's exploration significance. During its tenure, URO Corporation conducted reconnaissance and office-based studies to design field programs aimed at identifying new anomalies. However, physical exploration activities within the relinquished areas were hampered by access difficulties and logistical constraints, resulting in no sampling campaigns in these zones. These challenges redirected efforts toward more accessible and geologically favourable areas within the retained portions of EL 33000. To optimise exploration focus and manage costs, URO has relinquished the northernmost and southern parts of EL 33000 while retaining areas with higher prospectivity. Despite the relinquishment, URO recognises the potential of these areas, particularly for REEs, uranium, and polymetallic granitic and metamorphic-hosted deposits. Future exploration of the retained tenement will build upon insights gained from surrounding mineral occurrences, regional surveys, and geophysical data, ensuring a continued focus on unlocking the region's mineral potential.