Final technical report for EL 29304 Brumby Dam for the reporting period 1 February 2016 to 27 August 2016

Abstract

EL 29304 'Brumby Dam' is located approximately 125 km northeast of Alice Springs. Vehicle access to the project area is reasonable, via the Ross Highway through the Arltunga Historical Reserve and Claraville Homestead, and then by station tracks. Light vehicle travel time to the project is approximately two hours from the township of Alice Springs. During the term of this Licence Core Exploration completed a comprehensive review of historical exploration data focusing on the Palaeoproterozoic Aileron Province's potential for iron-oxide copper gold (IOCG) affinities. Core has an active IOCG targeted exploration program adjacent to EL 29304 termed the Greater Paradise Well Project on which the company has used surface geochemistry and mapping to explore for IOCG indicators. Whilst exploration targets defined within the Greater Paradise Well Project do not currently extend into the EL 29304 licence area, exploration review has focused on equivalent geological packages which extend into EL 29304 that would become a focus in any expansion of the project. Originally EL 29304 was in a Joint Venture (JV) between Core Exploration and Gempart (NT) Pty Ltd, in conjunction with EL 28853, EL 28854, EL 28852, EL 29347, EL 29389, EL 29512, EL 29514 and EL 29280. During 2013-2014 Core Exploration met the first stage requirements of the Joint Venture and agreed upon the 100% purchase of this Licence (and others) with Gempart. EL 29304 was registered to Core in October 2014 and Group Reporting was approved in February 2015. At the end of Year 4 it was decided that EL 29304 would be surrendered in whole as Core's focus has changed and this Exploration Licence is of no future value to Core.