EL 32840 Partial Relinquishment Report for the period 5 April 2022 to 4 April 2024

Abstract

This report describes exploration activity conducted over the partially relinquished portion of EL 32840 during the reporting period from 5 April 2022 to 4 April 2024. EL 32840 is one of 17 ELs (reduced from 21 ELs) that make up the Pegmatite One's Northern Territory tenure package. EL 32840 originally covered 33 blocks for 105.47 km2 but was reduced to 12 blocks for 38.34km2 prior to its second anniversary date (04/04/2024). The area has a history of tin prospectivity. Target minerals are lithium, tin and tantalum. During the reporting period, 6 rockchip samples were taken within the area of EL 32840 that was relinquished. None of these rockchip results were considered anomalous for lithium, tin and tantalum. However, there was some REE anomalism. Due to the lack of lithium, tin and tantalum anomalism, this area was relinquished as a part of a tenure rationalisation exercise due to the need to reduce costs.