Olympus Project First annual amalgamated report for the period 5 December 2015 to 4 December 2016 EL 29883 and EL 30728 GR429

Abstract

This report details exploration undertaken during the twelve month reporting period between 5th of February 2016 and 4th February 2017 for exploration licenses EL 29883 and EL 30728. This is the first Amalgamated Annual Technical Report for EL 29883 and EL 30728. Truscott Mining Corporation Ltd (TRM) controls 100% of the lease and are the tenement managers. Exploration carried out on the tenements in the year ended 5th February 2017 included: Data Compilation and research; and 1:500 Scale Project Mineral Mapping. The geology of EL 29883 consists of sequence of poorly sub-cropping sedimentary units of the lower Ooradidgee Group Probably Bernborough Formation. To date only a few of minor outcrops of these sediments have been found in the north of Tenement, the outcrops are only at best up to a meter in length and penetrate surface colluvim by no more than a few centre meters. Traverses over Tenement EL 30728 have yielded no outcrops to date. Most outcrops located were on the station track leading toward the pipeline. Track grading by the station owner had revealed outcrops of mineraliesd laterite which were sampled for comparison with other surface laterite found in the area but these have not yet been assayed. These lateriteitic deposits and other surface outcrops are located within the AAPA clearance areas. Table 3 contains details and locations of the above mineralized mapped localities these localities all lie above strong (NTGS) first vertical derivative localities. There is a strong junction between 083o and 103o the 103o is sometimes in historical literature referred to as the great Southern Shear line containing several high grade gold localities these include Juno and Nobles Nob Mines, this same shear also extends southward to Truscott's Ewan Edward. These areas will have more detailed geophysical maps produced before the commencement of any drill programs. A detailed ground based gravity survey will be expected to show shear details and the extent of the laterite field which may still be covered by colluvium. Exploration to date has therefore concentrated more on research using the expression of the 103 and 83 shear zones that can be observed to some extent, at field and local scales and are evident on geophysics images. It has become apparent that the structural modelling has geneneral applicability across the mineral field and Truscott is working within a long term (20 years plus) agenda of determining a number of project areas for development. In summary the research takes the concepts of actions of principal stresses, which are defined following observations of structural elements that are evident in the geology, to next level of understanding. The objective is to use the understanding to assist in the description and prediction of locations for economic mineralization within the Olympus Project.