EL31692 Leila Creek Project Partial Surrender Report for the period 21 September 2018 to 21 September 2022

Abstract

EL 31692 (Project) is located approximately 75km SW of Borroloola. Cerberus is assessing the potential of the Project for Stratiform, sediment-hosted Pb-Zn-Ag (+/- Cu) deposits. Previous exploration and mineral development activities in the Project area have highlighted several geological and geophysical anomalies. A total of 22 sub-blocks were relinquished from the Project during 2022, leaving 9 retained [-sub-blocks. Work on the relinquished blocks involved reviews of previous exploration activities and assessment of publicly available remote sensing and geophysical datasets. Geological reconnaissance was undertaken to field check geological interpretations and to assess geophysical anomalies. This work suggested that the relinquished blocks have low potential to host economic mineralisation at reasonable mining depths, and no further work is recommended.