Final annual technical report EL 28854 Mount Johnstone 6 February 2012 to 5 February 2016

Abstract

The EL 28854 'Mount Johnstone' licence area is comprised of twenty graticular blocks and straddles three parallel elements of the southeast trending Mount Johnstone Fault zone, a major structural control on mineralisation in the region. Tenure was initially granted to Gempart (NT) Pty Ltd in 2012 and CXO entered into a joint venture and became operators in late 2012. In 2014 CXO purchased EL 28854 outright from Gempart. Exploration work over the life of EL 28854 has been limited to desktop studies with no fieldwork undertaken. After final review and in reaction to poor investor sentiment over the last twelve months the company has decided to surrender EL 28854 whilst it focuses on lithium and its Jervois Projects.