Charley Creek North Project Partial Relinquishment Report EL 33008 05 August 2022 to 22 August 2024

Abstract

The relinquished portion of Exploration License EL 33008 is located approximately 160 km northwest of Alice Springs, Northern Territory, beneath the pastoral land of Narwietooma Station. This area is accessible via primary routes like the Tanami and Kintore Roads, with additional access through secondary station tracks. The landscape is predominantly flat, featuring a mixture of shrubs, mulga, gum trees, and spinifex across expansive alluvial plains. The geology of EL 33008 is characterised by quaternary alluvium overlying thick tertiary sediment cover. Alluvial fans sourced from the MacDonnell Ranges and Strangways Metamorphic Complex drain through the area, contributing to its potential for rare earth elements (REEs), uranium, and heavy mineral sands. Within the Aileron and Warumpi Provinces of the Proterozoic Arunta Region, the tenement's underlying geology is complex, featuring Paleoproterozoic metamorphic rocks and extensive alluvial systems that create favourable conditions for diverse deposit styles, including sediment-hosted REEs and uranium, IOCG-U and polymetallic metamorphic-related deposits. During its tenure, URO Corporation advanced exploration on EL 33008 through desktop studies, surface sampling, and field campaigns aimed at evaluating the area for REEs, uranium, and base metals. A total of 92 surface samples were collected, and geochemical analysis was conducted using portable XRF and laboratory assays. Although challenging terrain limited sampling to existing tracks, URO was able to identify several zones of interest, including a two-kilometre-wide zone of residual soils along a ridgeline dividing two drainage systems. Despite logistical challenges, URO's exploration efforts provided valuable data for ongoing analysis, although no significant anomalies were identified in the relinquished area. Rising tenement costs led URO to rationalise its portfolio, relinquishing the eastern portion of EL 33008 to focus on higher-priority zones within its other tenements. Nevertheless, the retained portion of EL 33008 remains prospective, particularly for REEs and sediment-hosted uranium, with potential in the crystalline basement for polymetallic deposits.