Relinquishment Report Woolner Project Ex-EL 33088 (Woolner) for the Reporting Period 3 January 2023 to 11 March 2025

Abstract

EL 33088 (Woolner) Woolner Project is in the Woolner area approximately 55 kilometres east of Darwin, Northern Territory. EL 33088 covers an original area of 473.23 square kilometres (146 Sub Blocks), now reduced to 99 blocks and spans across one 1:250K map sheet: Darwin (SD 52-04) and four 100,000 map sheets: Noonamah (5172), Mary River (5272), Koolpinyah (5173) and Point Stuart (5273). The Woolner Project is situated within the Jurassic to Cainozoic Money Shoal Basin, comprised of sandstone, coal, shale, claystone and marls, that varies in thickness from ~40m to 120m and is overlain by Cainozoic shell derived carbonates. Beneath the cover sequence are the concealed Archaean (2674 minus-plus3Ma) Woolner Granite apophyses evident as two gravity lows, overlain by gneissic and schistose units of the Dirty Water Metamorphics, possibly also of Archaean age, and in turn unconformably overlain by fluviatile sandstone, dolomitic siltstone and mudstone of the Mount Partridge Group metasediments of the Pine Creek Orogen and intruded by dolerite and lamprophyre dykes. Exploration is targeting uranium mineralisation for models that include unconformity-style uranium mineralisation within the Pine Creek Orogen, structurally controlled mineralisation, around the margins of the Woolner Granite in contact with metasediments of the Dirty Water Metamorphics, or in Whites/ Cahill Formation equivalents in the Koolpinyah Dolostone of the Mount Partridge Group. There were no on-ground activities during the reporting period except for a helicopter flyover in October to check accessibility. Planning for detailed coverage of part of the area for inclusion in the NTGS Ground Gravity Survey in 2024 was commenced, until it was realised that most of the area had been covered by a 1km spaced survey in 1979 and results were available from that. In depth review of all past work was undertaken including evaluation of the feasibility of alternative mineralisation models with the motive of developing new targets for uranium mineralisation. Previous work has fairly thoroughly evaluated a challenging target for what would need to be a substantial uranium deposit to justify development in this setting. Reviews of past work have indicated that the main tools applicable to exploration in this terrain, magnetics and gravity, have already been tested exhaustively without encouragement for uranium. Several Airborne EM surveys were also tried, with little useful result on account of highly conductive marine muds near surface across the tenement. Extensive scout drilling has also been completed both at geophysical targets and on reconnaissance traverses to provide geological sections through the pre- Money Shoal geology. These appear to restrict the opportunity for major uranium deposits, and the areas subject to this report have received no on-ground activity or new remotely sensed surveys during the reporting period.