McArthur River Project 2018 Stratigraphic Diamond Drilling Program EL 27711 and EL 30085

Abstract

This report provides a summary of drilling completed between the 14th of August and 3rd of September by Todd River Resources Pty Ltd on EL 27711 and EL 30085 in the McArthur Basin as part of the Round 11 Geophysics and Drilling Collaborations Program. Drilling was aimed at studying the potential for world class stratiform Zn-Pb-Ag mineralisation within the Todd River Resources project area by gaining stratigraphic information and testing SkyTEM conductors from unknown sources. The program began on the 14th of August 2018 on drill hole MCDD0003. MCDD0003 was drilled from surface to 513.4 metres through the Tawallah Group. The drill hole collared in the Wollogorang Formation passed into the Settlement Creek Dolerite and ended in the interpreted Wununmantyala Sandstone. Weakly elevated background levels of zinc, copper and lead were apparent in the Wollogorang ovoid unit. No apparent conductor was intersected in drilling. Down-hole electromagnetics indicates a possible small poor conductor to the south-west of the drill hole. MCDD0005 was drilled ten and a half kilometres to the north-east of MCDD0003 higher within the stratigraphy of the McArthur Group Umbolooga Subgroup. MCDD0005 collared in Tatoola Sandstone, passed into Amelia Dolostone, continued through into the Gold Creek Volcanics and Masterton Sandstone before finishing in the Lower Wollogorang Formation at 553.3 meters. Down-hole electromagnetics failed to produce any significant conductor suggesting mineralisation is not extensive. Drilling from the program has provided evidence of live systems within the area and prospective stratigraphy at depth but failed to intersect significant mineralisation. Assays showed slightly anomalous Cu, Pb, Zn and Ag values in some strata, but not anywhere near economic levels.