EPM18738 , SANDMAN NO.2 FINAL REPORT FOR PERIOD ENDING 03 SEPTEMBER 2021

URL: https://geoscience.data.qld.gov.au/dataset/cr151806

This is report is the annual and final report for EPM 18738 for year 9 reporting period. The majority of the EPM18738 tenement area is of low elevation and comprises Quaternary sediments within current and paleo river dominated systems and minor Tertiary ferrous aluminous lateritised Jurassic ,Cretaceous sedimentary units.

During the 2014 and 2015 program, a total of fourteen (14) air core holes (D279 to 288 and D316 to 319) were drilled in EPM18378 to test the interpreted western extension of a paleo dune feature located in the northern portion of EPM15371. These holes were drilled in the north of the tenement, which was subsequently relinquished in September 2015.

Due to the decline in mineral sands commodity prices, regional exploration was put on hold in 2017 by the joint venture, with an expectation to bring the bauxite mining lease into production. The Covid 19 pandemic further restricted the exploration program, although resulted in a surge in demand for the mineral ore. No exploration was undertaken across any of the EPM tenements held by Oresome for the annual reporting period.

After review of potential resource on site, difficulty of access for both exploration and future extraction, environmental considerations and the implications of the Covid-19 pandemic during the period, Oresome decided to concentrate resources on the granted mining leases and the EPMs with identified resource. Consequently, the decision was made to not renew EPM 18738.