EL 30098 Borroloola Project 2016 Mineral exploration annual report 12 November 2015 to 11 November 2016

Abstract

This annual report covers mineral exploration by Sandfire Resources NL (Sandfire) on EL 30098, a component of the Borroloola Project, for the period 12th November 2015 to 11th November 2016 (the 'reporting period'). EL 30098 is a Sandfire held and operated tenement within the Borroloola project which consists predominantly of joint ventures with Pacifico and MMG. The tenement is located entirely on unallocated crown land within the Limen National Park and is subject to the Billengarrah Native Title Claim (DC2000/029). The tenement sits within the Batten Fault Zone of the Proterozoic McArthur Basin and has been explored for base metals and diamonds since the 1950's with evidence of historic works in the region dating back to the 1880's. Sandfire believes the tenement is prospective for base metals, primarily of tectonically remobilised or hydrothermal types. Exploration activities undertaken during the current reporting period included the start of an ongoing data capture, compilation and synthesis process which is anticipated to result in targets being defined within EL 30098. This work will continue into the next reporting period.