Annual and final report EL 28152, 1 March 2011 to 8 January 2016

Abstract

EL 28152 was field checked in July 2011 and first-pass reconnaissance mapping carried out, which identified outcropping Plain Creek and Brumby Formation. No samples were collected. In 2013 the Company entered into a Joint Venture Option Agreement with Jimpec Resources, covering the Manganese and Iron rights for tenements including EL 28152. Immediately after the JVOA was signed Jimpec commissioned an iron mineralisation assessment for the Nicholson/Highland Plains tenements. The report identified areas of potential iron mineralisation and investigated their possible iron endowment. Targets BC8b and BC8c overlap in part onto EL 28152. The tenements were managed by Jimpec in 2014-2015. During this time Jimpec concentrated on introducing investors to the iron potential of the tenements, including leading a field trip to the Sticky Fly and Fearless Fly prospects. No on-ground exploration was conducted on EL 28152.