EPM27850 FEATHERBED FINAL REPORT FOR PERIOD ENDING 05 JULY 2024

URL: https://geoscience.data.qld.gov.au/dataset/cr149303

This final report describes the exploration activities carried out by FMG Resources Pty Ltd on EPM 27850 between 14 December 2021 and 5 July 2024. FMG Resources Pty Ltd is a subsidiary of Fortescue Ltd, an Australian minerals company based in Western Australia, which is currently exploring for critical minerals in northern Queensland.

Exploration completed on EMP 27850 throughout the life of the licence comprised a historical data review, geological mapping, surface sampling and native title party engagement. All activities had a primary focus on the geochemical characteristics of the area and how it compares to analogous targets. Unfortunately, the results were poor. While the Featherbed ignimbrites are likely to be of the same family as the target type, concentrations of vector elements that are indicative of potential mineralisation are limited to isolated points with no continuity across sampled areas. Furthermore, indicative concentrations are typically limited to very similar elements suggesting the correlation is related to rock family rather than mineral enrichment.

EPM 27850 was voluntarily relinquished in full on 5 July 2024.