Partial relinquishment report for EL 29787 and EL 29903 for the period 8 July 2013 to 13 November 2018 Lake Lewis

Abstract

Lake Lewis Project is comprised of EL29787 and EL 29903, situated approximately 200 km west-northwest of Alice Springs on the NAPPERBY 1:250,000 Geological Series Map Sheet, SF 53-9 map sheet. EL 29903 was comprised of 41 blocks and was granted on 2 February 2014 to Piper Preston Pty Ltd (a wholly-owned subsidiary of Salt Lake Potash Limited). Twenty blocks relinquished in April 2018 and a further 6 were relinquished in November due to under expenditure. EL 29787 was granted on 8 July 2013, fourteen blocks were surrendered in November 2018 again due to under expenditure on the tenement. The prime commodity sought is Sulphate of Potash (SOP); however, as this mineral does not naturally or directly crystallise from salt lake brines the exploration rationale is based on systematic exploration, evaluation and confirmation of replenishable brine resources contained in the tenement proper, prior to mineral process engineering evaluations and establishment of recoverable SOP from mineral brine resources. As the definition of groundwater recharge capacity of the lake is a prime importance for mineral brine resource evaluations, work carried out by the Company on EL 29903 geophysical review and reinterpretation of all publically available data, water sampling a total of 6 samples taken over the relinquished areas. APPT clearance survey over the tenement.