Highland Rocks Project EL 27511 Annual technical report for the period 18 November 2016 to 17 November 2017

Abstract

This report discusses exploration activities on EL 27511, located c. 530 km north-west of Alice Springs, Northern Territory, for the second year of tenure, covering the period 18th November 2016 to 17th November 2017. EL 27511 was granted to Tychean Resources Ltd (Tychean; formerly ERO Mining Ltd) on 18th November 2015 for a period of 6 years. During 2014 Ramelius Resources Ltd entered into a Farm-in Agreement with Tychean Resources Limited, comprising the Tanami Joint Venture, which includes EL 29829. Ramelius are operators of the project and can earn an 85% Joint Venture Interest in the tenement package by sole funding $500,000 over 3 years. The target commodity of EL 27511 is gold. The tenement contains several prospective targets in Tanami Group basement rocks. Work carried out on the license during the reporting period included target generation, reconnaissance geological mapping and surface geochemical sampling over selected target areas. No significant gold anomalism was identified by the sampling. During the next 12 months, planned exploration activities include reviews of all data. Programs of regolith mapping and shallow Air Core drilling in areas of transported regolith will be carried out to test selected targets.