EL 33204 Partial Relinquishment Report 13 December 2022 to 13 December 2024

Abstract

This relinquished portion of Exploration Licence (EL) 33204 lies entirely below pastoral land and is situated approximately 150km North-West of Alice Springs This region benefits from Alice Springs' infrastructure, including transport routes and services that support exploration activities. The area is considered prospective for a variety of mineral targets, including precious and base metals, uranium, REEs, energy metals, and PGEs, with multiple deposit models considered. The area had limited prior fieldwork or drilling, so exploration focused on both new anomalies and underexplored opportunities. During the lifetime of the relinquished portion of EL 33204, a total of 17 surface samples, comprising 16 soil samples and 1 rock chip, were collected and analysed using portable X-ray fluorescence (pXRF) and a scintillometer. One sample, URX1566, showed slightly elevated concentrations of certain elements using the pXRF, but subsequent laboratory analysis revealed no significant geochemical anomalies. Despite the lack of major findings, the area remains underexplored and retains significant prospectivity, particularly for REEs and uranium. Due to increasing tenement costs, URO Corporation has relinquished the eastern portion of the license while focusing on more promising areas. To optimise exploration, focus and manage costs, URO has relinquished the northernmost and southern parts of EL 33204 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 in the bedrock. 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.