EL 30302 Final surrender report 9 June 2009 to 9 July 2018

Abstract

This Final Relinquishment report for the period 9 June 2009 to 9 July 2018 covers the mineral exploration completed by Pacifico Minerals Ltd ('Pacifico') on EL 30302, formerly of the Borroloola West Project Group (GR121-13). The Borroloola West Project is under a farm-in agreement between Sandfire and Pacifico (formerly West Rock Resources Ltd), A Strategic Alliance Agreement with Cliffs Natural Resources Inc. was terminated in February 2014 and Pacifico executed the Deed of Settlement in January 2015. Pacifico has now earned a 51% interest in the project with Sandfire (49%) and in April 2016 an unincorporated joint venture was formed, with Pacifico continuing as operator. The project area lies within the Batten Trough of the Middle Proterozoic sediments and minor volcanics of the Tawallah, McArthur and Roper Groups of the McArthur Basin, with Cretaceous and Tertiary cover sediments. During the reporting period 9 June 2009 to 9 July 2018, Pacifico carried out exploration concentrated on the Johnstons Prospect, consisting of: Rock chip sampling (pXRF analyses); RC Drilling. No work was carried out on this licence subsequent to the group annual report dated 10 April 2018. The licence to be relinquished is considered to have no immediately testable prospectivity.