Final surrender report EL 26949 11 May 2009 to 13 April 2015

Abstract

Exploration for the period of 11 May 2009 to 13 April 2015 included high resolution aerometric 90cm resolution aerial photography and desktop studies completed by Castile Resources prior to entering into a joint venture agreement with MMG Exploration Pty Ltd in September 2010. MMG conducted detail structural desktop studies prior to completing limited on ground geochem sampling and mapping in the region during the 2011 and 2013 field season. Numerous desktop studies followed sampling programs aimed to investigate the prospectivity for HYC-style mineralisation and targeting purposes. The project is still considered as a grass-roots base metals project. The rugged nature of the region means that exploration will require helicopter support which increasing the cost of exploration and has resulted in limited drilling in the region. Recently MMG Exploration Pty Ltd has withdrawn from the joint venture agreement due to the relative inaccessibility of the region and lack of significant result in recent drilling. Castile has focused its exploration activities on the southern Rover Field near Tennant Creek and Warumpi Province west of Alice Springs and as such has opted to surrender these tenements.