Second group annual report from 1 January 2015 to 23 December 2015 and final group annual report from 3 January 2014 to 23 December 2015 for EL 22554, EL 22555, EL 30153 and EL 30155 GR353 Walkeley Project

Abstract

ABM explored the project for the potential of gold mineralisation. No on ground exploration was conducted during the second and final year of term as ABM focused on the development of its higher ranking Old Pirate High-Grade Gold Project. Over the two years of term exploration was completed by ABM and Clancy Exploration Ltd (ASX: CLY) ('Clancy'). It included ABM?s regional assessments of the project area, review and re-processing of potential field data by Fathom Geophysics for Clancy. ABM?s assessments resulted in the decision to include the project in ABM?s divestment policy campaign. Potential JV partner Clancy?s review and re-processing of data in the public domain as well as company internal data by Fathom Geophysics resulted in TMI imagery plus a single ?best available data? magnetic grid that can be filtered and used for ongoing targeting as well as exploration. As the JV negotiation with Clancy had not lead to an agreement, ABM assessed its over all tenure situation in November 2015 which resulted in the relinquishment of the 'Walkeley' project tenements in December 2015.