Annual report EL 30051 Mainoru Project for the period 16 May 2015 to 15 May 2016

Abstract

During the second year of the EL 30051 term, Top End Minerals (TEM) completed limited onground exploration activity. This licence lies south and along strike from the Merlin Diamonds Ltd licence EL 26206 where TEM have identified a number of base metal anomalies. During 2015, TEM applied for an AAPA Clearance Survey over EL 26206 in preparation for a drill program to test these high-priority anomalies. However, the AAPA certificate designated large portions of EL 26206 as 'Restricted Works Areas' that essentially deny further access. Hence the company is hesitant to invest substantial funds into the EL 30051 licence until the outcome of the land access negotiations with Traditional Owners to enable exploration activities to continue within areas defined as 'Restricted Works' on EL 26206. As EL 30051 surrounds EL 26206, and encompasses similar topography and stratigraphy, there is high likelihood that large areas of this licence will also be subject to 'Restricted Works' areas that will prevent access and meaningful exploration activity.