Partial Relinquishment Report for Exploration Licence 32582 Raptor East 30th of June 2021 to 4th of June 2025

Abstract

This report summarises the partial relinquishment of tenement EL 32582 prompted by the approaching fourth anniversary of the tenement being granted on the 30th of June 2025. Tenement EL 32582 comprises part of the IGO Limited (IGO) Raptor Project across the Willowra Gravity Ridge. The tenement is located approximately 270 km north-northwest of Alice Springs on the Stirling Station Pastoral Lease. The Raptor project targets magmatic nickel-copper-cobalt sulfide mineralisation within ultramafic and mafic bodies that intrude metasedimentary rocks of the Lander Rock Formation. A secondary target is hard rock lithium mineralisation associated with pegmatites. During the tenure period (30/06/2021 to 30/06/2025), IGO completed a solid geological interpretation based on available aeromagnetic data was also completed by consultant Leigh Rankin in 2021. An airborne electromagnetic survey was also completed over a portion of the relinquished ground in 2024 as part of a wider exploration program across the Raptor project area. The TEMPEST 2 km-spaced airborne electromagnetic survey covered 29.5-line kms over relinquished ground. This survey was co-funded under Round 16 of the Geophysics and Drilling Collaboration (GDC) Program. A portion of the relinquished tenure was subject to a site heritage clearance by the Central Land Council in 2024. Sacred Site Clearance Certificates (SSCC) for portions of EL 32582 were received on the 24th of September 2024 and the 9th of May 2025. No on-ground exploration work was completed on the relinquished tenure since grant. IGO have relinquished ground for two main reasons. Relinquished areas covered by airborne electromagnetic surveys are considered unexplorable based on the significant depth of cover to basement rocks. This makes further exploration by ground EM or soil sampling impractical with current methods. Areas with heritage exclusion zones were also relinquished. No further work is recommended on the relinquished ground.