EL 32080 Relinquishment Report for the period 23 August 2019 to 25 November 2024

Abstract

EL 32080 is held 100% by Eclipse Metals Limited and comprises part of the companies' Ngalia Basin Project, along with adjacent granted EL 24808 ELA's 31499-502 and 32077-080. The tenement is prospective for two main types of U-V mineralisation: Surficial or palaeochannel-hosted carnotite deposits associated with calcrete in palaeo-drainages; Bigryli-style tabular uranium mineralisation hosted within the Carboniferous Mount Eclipse Sandstone. A veneer of Quaternary sand and clay covers much of the tenement, with a few outcrops of the prospective Mount Eclipse Sandstone. A mining management plan covering proposed drilling was approved in July 2023 and an aircore drilling program was carried out between the 7th and 9th August of 2023, along with collection of passive seismic data. Based on earlier basic research and review of historical data (previously reported) suggests that the western portion of EL 32080 has limited prospectivity and 27 sub-blocks covering that area were relinquished on 24 November 2024. No field work has been conducted on the area of the relinquished sub-blocks.