Odessa holds a 90% interest in granted exploration licence EL 80/5027 and a 100% interest in granted exploration licence EL 04/2364.
Odessa has also entered into the Licence and Tenement Sale Agreement with Celsius (refer to Section 7.2(b) of the Recompliance Prospectus) to acquire a 100% interest in exploration licence application ELA 80/5117.
In addition, Odessa holds 15 exploration licence applications located in the Kimberley region of Western Australia which, together with the above-mentioned Tenements, constitute the Aries, Ellendale, Calwynyardah and Noonkanbah Projects.
All of Odessa’s Projects are located in the Kimberley region of Western Australia and are considered prospective for diamonds.
Further information in respect of Odessa’s Projects is set out in the Independent Geologist’s Report in Schedule 3, contained within the Recompliance Prospectus. A full list of the Tenements in which Odessa holds an interest is set out in Section 3.3 of the Recompliance Prospectus.
The Aries Project consists of granted exploration licence EL 80/5027 and exploration licence applications ELA 80/5117, ELA 80/5685, ELA 80/5686 and ELA 80/5687 that cover the known kimberlite pipes of Aries, Aries North, and to the south of Aries, Helena, Athena, Persephone and Niobe.
Odessa, through its wholly owned subsidiary OD3 Aries, holds a 90% interest in exploration licence EL 80/5027, which was acquired pursuant to the Aries Sale and JV Agreement. Jindalee holds the remaining 10% interest in this Tenement. Odessa has also entered into the Licence and Tenement Sale Agreement with Celsius to acquire a 100% interest in exploration licence application ELA 80/5117. Exploration licence applications ELA 80/5685, ELA 80/5686 and ELA 80/5687 are held by Odessa’s wholly owned subsidiary, OD3 Aries.
The Aries Project is located in the central Kimberley region of Western Australia, approximately 300 kilometres west of Derby. The Aries Project covers geology that forms part of the northern limb of the Phillips Range Anticline, a major east-plunging structure within the Proterozoic Kimberley block. A succession of Lower Proterozoic sandstone and volcanics dip to the northeast. The area has been the subject of sporadic exploration since 1986.
The Ellendale Project consists of exploration licence applications ELA 04/2696, ELA 04/2697, ELA 04/2698 and ELA 04/2699 which were applied for by Odessa. The applications surround the Ellendale Diamond Field and are located approximately 160 kilometres east of Derby and 100 kilometres west of Fitzroy Crossing, Western Australia.
The Ellendale Project is located in the Permian Fitzroy Trough, one of four sub-basins separated by basement highs that together comprise the Canning Basin. The basin comprises a sequence of continental sediments dominated by mudstones to cross-bedded fine sandstones with occasional coarser units. The Ellendale Project has been subjected to diamond exploration from the mid-1970s.
The Calwynyardah Project comprises of one granted exploration licence EL 04/2364 and two exploration licence applications, being ELA 04/2714 and ELA 04/2695 (Calwynyardah main) which are contiguous with EL 04/2364. In addition, the Calwynyardah Project also includes exploration licence application ELA 04/2693 (Liveringa sub-project). Odessa holds a 100% interest in exploration licence EL 04/2364, and is the holder of applications ELA 04/2695 and ELA 04/2693. ELA 04/2714 is held by Odessa’s wholly owned subsidiary, OD3 Wynne.
The Calwynyardah Project (main) is located approximately 75 kilometres west of Fitzroy Crossing, and the Liveringa sub-project is located approximately 65km south-southeast of Derby. The Calwynyardah Project regional geology is similar to that at the Ellendale Project. The Calwynyardah Project includes Calwynyardah and Laymans Bore East lamproite pipes which, with surface areas of 125 and 103 hectares respectively, are two of the largest lamproite pipes known in the region. The extent and internal structure of these pipes has been defined by previous exploration programs.
The Noonkanbah Project comprises of five exploration licence applications ELA 04/2694, ELA 04/2704, ELA 04/2705, ELA 04/2707 and ELA 04/2719. Odessa is the holder of all applications (other than ELA 04/2719, which is held by a wholly owned subsidiary of Odessa, OD3 Wynne).
The Noonkanbah Project area is located approximately 80 kilometres west of Fitzroy Crossing in the central Kimberley region of Western Australia. The Noonkanbah Lamproite Diamond Field covers a large area in the central part of the Fitzroy. 29 lamproites are known, 17 exposed and two concealed, ranging from a large breccia pipe (Mount Abbott), the volcanic plug of Machells Pyramid, to an isolated dyke (Mount Cedric North) and the large pluton-like body of the Walgidee Hills (the largest known Lamproite in Australia). Most of the diamond exploration in the Noonkanbah area occurred between 1969 and 1980, with only sporadic exploration in the area since that time.