cr157445

EPM27441 was granted to Swansands, a wholly owned subsidiary of Iluka on 30 July 2020 for a period of five years, expiring on 29 July 2025.
This report covers the work undertaken by Iluka on EPM27441 during the reporting period 30 July 2020 to 14 January 2025 when the Tenement was surrendered. The tenement was granted to explore for heavy mineral concentrations of economic significance.
An air core drilling was undertaken in November 2023 with a total of 43 holes drilled for 1,899.5m. The drilling program was a follow-up to the 2022 drilling program which encountered a thick package of fine to medium beach sands and a high value assemblage.
A good understanding of the paralic sand facies was gained by the follow-up drilling program. The geology remained unchanged from the 2022 drilling, with the continuation of the nearshore/offshore sediment (the assumed Wallumbilla and Gilbert River Formation). No significant HM grades were intercepted during drilling.
The tenement was highlighted for surrender in 2024 with formal acceptance granted as of 14 January 2025.