EL 26587 Borroloola Project Annual and final mineral exploration report 11 September 2008 to 2 August 2017

Abstract

This annual and final surrender report covers mineral exploration by Sandfire Resources NL (Sandfire), and West Rock Resources Limited (WestRock) and Pacifico Minerals Limited (Pacifico), on EL 26587 within the Borroloola and Borroloola West Projects respectively, for the period from tenement grant on 11 September 2008 to voluntary relinquishment on 2 October 2017 (the 'reporting period'). The wider Borroloola Project sits within the Batten Fault Zone of the Proterozoic McArthur Basin, and has been intensively explored for base metals, manganese and diamonds since the 1950s. Evidence of historic work in the region dates back to the 1880's. Sandfire conducted exploration on EL 26587 as it believed the tenement to be prospective for base metals and manganese. Between grant on 11 September 2008 and the commencement of operations under Pacifico on 1 July 2013, Sandfire carried out a review of base metals and manganese potential including a consultant's review of manganese potential in 2010. The Borroloola West Project is a Joint Venture between Sandfire and Pacifico which included EL 26587. From 1 July 2013 to 21 April 2016 Pacifico commissioned the project-wide synthesis of regional geology and geophysical surveys in 2013 followed by the drilling of five RC holes, also in 2013, to assess the potential for manganese on EL 26837 and EL 26587. One exploration target was tested with Aircore drillhole 13TAC04 Drillholes were visually geologically logged and submitted for palynological age dating. Downhole XRF readings indicated mineralisation that was followed with laboratory analysis of spear samples returned an intersection of 5m at 2.52%Mn from 45.0m, including 1m at 4.26%Mn from 49.0m. EL 26587 was divested, with EL 24401 and EL 26837 from the JV by Pacifico on 21 April. The Borroloola Project Combined Reporting Group GR448/17 in the Northern Territory included EL 24401, EL 26555, EL 26587, EL 26837 and EL 30098 with Sandfire as operator. The GR448/17 201704 GA Group Annual Report was submitted on 12th June 2017 and accepted. From the end of the reporting period for the GR448/17 Group Annual Report, 9 April 2017, to the surrender of EL 26587 on 2 August 2017, no field exploration activities were undertaken. Office based compilation of this 2017 Annual and Final Report was carried out. Within the full reporting period 2008 to 2017, EL 26587 was the subject of regional to prospect scale exploration to drill at prospects with potential for manganese mineralisation. As part of a technical decision that also resulted in two other tenements also prospective for manganese mineralisation: EL 24401 and EL 26837 being allowed to lapse on their respective expiry dates: 2 June and 8 June 2017, EL 26587 was surrendered on 2 August 2017.