Depot Creek Project EL 31528 First annual and final report for the period 18 December 2017 to 17 December 2018

Abstract

EL 31528 ('Licence', 'Project' or 'Depot Creek Project') is located c. 145 km southeast of Darwin, the capital city of the Northern Territory, and immediately adjacent Hayes Creek, a Roadhouse and caravan park situated on the Stuart Highway. The Licence was granted to Thunderbird Metals Pty Ltd ('Thunderbird') on 18 December 2017 for a term of six years with Thunderbird the sole holder and operator. During the reporting period, Thunderbird (i) conducted desktop studies and (ii) in late April 2018 completed a reconnaissance site visit aimed at determining access and exploration methods best suited to the area. The desktop review highlighted the underexplored nature the Licence area, which covers the mostly concealed roof zone of the Fenton Granite (setting of the Gold Ridge gold and platinum group metals prospect c. 15 km to the west) and the Hayes Creek fault systems or splays thereof (setting of Thunderball uranium deposits c. 6 km to the northeast). Thunderbird?s intention was to conduct significant exploration programs at the Depot Creek Project. Unfortunately, due to sustained poor market conditions for greenfields exploration, Thunderbird was unable to raise the funds required to adequately explore the Project. Hence, a decision was made to relinquish the Licence due to lack of funds.