Suplejack Project EL 26625 Annual technical report for the period 24 May 2017 to 23 May 2018

Abstract

This report discusses exploration activities on EL 26625, located c. 575km north-west of Alice Springs, Northern Territory, for the seventh year of tenure, covering the period 24 May 2017 to 23 May 2018. EL 26625 was granted to Tychean Resources Ltd (Tychean; formerly ERO Mining Ltd) on 24th May 2011 for a period of 6 years. During the 2014-2015 reporting period, Ramelius Resources Ltd entered into a Farm-in Agreement with Tychean Resources Limited, comprising the Tanami Joint Venture, which includes EL 26625. Ramelius are operators of the project and have earned an 85% Joint Venture Interest in the tenement. The target commodity of EL 26625 is gold. The tenement contains several prospective targets in Tanami Group basement rocks. These target areas underlie substantial thickness of Cambrian and Tertiary cover, which has largely precluded effective exploration in the past. Work carried out on the license during the reporting period included rehabilitation of disturbed areas and office studies, including a data review and target generation. During the forthcoming year, the company plans to conduct further exploration over the Dead Bullock Formation litho-structural target, including the northern and southern part of the EL 26625. The work programme includes assessment and interpretation of geochemical signatures derived from the current drilling (2015-2018), and aircore drilling over selected target areas.