The Peak Range Exploration Permit for Minerals EPM 27860 covers an area of approximately 46 km2. The permit is located in the Central Queensland Highlands, approximately 40 km north-east of Clermont.
EPM 27860 was granted on 31 March 2022 to Longreach No 1 Pty Ltd . On 14 November 2022 the Permit was fully surrendered. This document is the Final Report containing a summary of the results of exploration during the whole term of the permit.
The following scope of work completed during the reporting period:
Year 1: Review of all geological, geochemical and geophysical data.
The high resolution magnetic/radiometric data acquired as part of the Fletchers Awl Airborne Survey (CEI0220 Round 4) provides excellent definition of the Peak Range Volcanics rhyolites over the permit area EPM 27860 due to their elevated U-Th-K content. A desktop assessment completed by Longreach had highlighted the prospectivity of the permit for REE. Prior to the REE samples acquired on the adjoining permit (EPM27423) as part of the Northern Peak Range Volcanics Geochemical Program (CEI0331 Round 5), no assays had been completed for full suite of REE, Li, W, Sn, Ta over these rhyolites.
Despite the REE composition sampled in adjacent permit EPM 27423 being anomalous, they are not economic in their TREO concentrations. Therefore, it was recommended to discontinue exploration work at EPM 27860. Furthermore, the potential intrusion (based on magnetics imagery) is also considered too deep to be of economic interest for Cu-Au.