EL 24401 Borroloola Project 2017 Annual and final mineral exploration report 3 June 2005 to 2 June 2017

Abstract

This annual and final surrender report covers mineral exploration by Sandfire Resources NL (Sandfire), and Westrock Resources Limited (Westrock) and Pacifico Minerals Limited (Pacifico), on EL 24401 within the Borroloola and Borroloola West Projects respectively, for the period from tenement grant on 3rd June 2005 to final expiry on 2nd June 2017 (the 'reporting period'). The Borroloola Project Combined Reporting Group GR448/17 in the Northern Territory which includes EL 24401, EL 26555, EL 26587, EL 26837 and EL 30098 is operated by Sandfire. Between the period ending 11th April 2017 for the GR448/17 Group Annual Report to final surrender of EL 24401, 2nd June 2017, no field exploration activities have been undertaken. Only office based compilation of this Annual and Final Report for submission was carried out. The wider Borroloola Project sits within the Batten Fault Zone of the Proterozoic McArthur Basin and has been explored for base metals, manganese and diamonds since the 1950's. Evidence of historic work in the region dates back to the 1880's. Sandfire applied initially for EL 24401 as it believed the tenement to be prospective for base metals and manganese. Subsequent exploration on EL 24401 has comprised three airborne geophysical surveys (TEMPEST AEM, heliborne VTEM and airborne magnetics and radiometry) and the drilling of two RC-diamond drill holes for 700m. Drill holes BBD001 and BBD002, cofounded under the CORE initiative, were targeted to intersect pipe-like VTEM features interpreted to be associated with an intrusive complex. Drill holes were visually geologically logged and pXRF readings taken at 1m intervals. Neither geological logging nor pXRF analysis returned indications of proximity to base metal mineralisation or the target intrusive complex. The tenement was not renewed and expired on 2nd June 2017.