cr132600

Exploration Permit for Minerals (EPM) 17143 Broughton Creek South West covering 4 sub-blocks was granted 17th December 2009 for a period of three years to CNW Pty Ltd. On 15th November 2010, EPM 17143 was assigned 100% to Broughton Minerals Pty Ltd, a company affiliated with CNW Pty Ltd. A joint-venture agreement including EPM 17143 was signed with Orion Metals Limited over several Broughton Creek project tenements held by CNW Pty Ltd in September 2011. Broughton Orion Pty Ltd, a wholly owned subsidiary of Orion Metals Limited acts as the operator for the permit, relinquished two unprospective sub-blocks from EPM 17143 on 10th January 2013. Broughton Minerals Pty Ltd was granted a renewal of EPM 17143 over 2 sub-blocks for a further 3 years commencing 17th December 2012 on 11th June 2013.
During the reporting period ending 16th December 2014, Broughton Orion further utilised its Access database to delineating target areas for geological mapping and geochemical sampling. However, due to funding and expenditure commitments, Broughton Orion formally withdrew from the Broughton Creek Joint Venture on 1st September 2014 and no actual field work was completed. As a consequence, EPM 17143 along with the remainder of the Broughton Creek project was regained 100% by Broughton Minerals Pty Ltd.