Exploration Licence 32917 Partial Relinquishment Report for the period 27 October 2022 to 13 November 2024

Abstract

This report describes exploration activities conducted on the relinquished portion of EL 32917 over the duration of tenure from initial grant on 27 October 2022 to relinquishment on 13 November 2024. EL 32917 is referred to as the Orange Creek Uranium Project, and lies approximately 38 km due south of Alice Springs. The primary exploration target is sandstone-type uranium mineralisation associated with reduced sediments between regionally extensive upper and lower redox boundaries. The reduced horizon occurs within the Undandita Member of the Late Devonian to early-Carboniferous Brewer Conglomerate; it hosts the nearby Angela and Pamela uranium deposits, and the Orange Creek uranium prospect. Exploration activities during the period of tenure from grant to partial relinquishment comprised compilation, assessment and re-evaluation of historical data, to assess signatures of mineralisation styles to use as field exploration tools for a proposed drilling program. The Company identified four priority areas prospective for the discovery of sandstone-hosted rollfront style uranium mineralisation of a similar nature to that of the nearby Angela and Pamela uranium deposits. The 41 blocks were relinquished as a mandatory reduction of title on its second year anniversary since grant. The relinquished blocks were outside of the identified priority areas, and were considered to represent less prospective areas of the title.