Stray Creek Project EL 31529 First annual and final report for the period 18 December 2017 to 17 December 2018

Abstract

EL 31529 ('Licence', 'Project' or 'Stray Creek Project') is located c. 160 km southeast of Darwin, the capital city of the Northern Territory, and c. 40 km west of Pine Creek. To the north, the Licence abuts the Tjuwalliyn (Douglas) Hot Springs Nature Park. 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 clearly highlighted the underexplored nature the Licence area, which covers the southern extension of an auriferous BIF system and greater 30 km of strike length of the Blue Ant shear zone previously identified by Homestake Gold some 10 to 15 km to the northwest. Thunderbird's intention was to conduct significant exploration programs at the Daly River 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.