Annual technical report for EL 28857 Second Chance Allamber Project for the period 24 February 2016 to 23 February 2017

Abstract

During the reporting period, two drill holes (TALDD001A and TALRCDD001) were drilled for a total of 221.8 meters to follow up the potential for copper and graphite within the North Brumby-North Tarpon-Ox Eyed Herring areas (figure 3). Hole TALRCDD001 successfully intersected two thin mineralised zones between 152.15-154.3m and 159.4-161.2m. A petrography study on selected core samples from the mineralised zones intersected in hole TALRCDD001 have been conducted. EL 28857 continues to offer significant exploration potential which will be the subject of further work programs in 2017. Element 92 geological interpretation of the project area has shown that the Allamber Springs Granite and surrounding rocks has potential for hosting copper and gold mineralisation at the contact with the granite body and the adjacent meta-sediments and within brecciated structures crosscutting the granitic bodies. The source of mineralisation is related to the emplacement of late-stage granitic intrusions which generated hydrothermal fluids responsible for mineralisation. It is likely that additional mineralisation with economically viable grades may be discovered with further drilling.