Highland Rocks Project EL 27995 Partial Surrender Report for the period 18 November 2015 to 09 February 2019

Abstract

This report discusses exploration activities on the relinquished portion of EL 27995, located approximately 540km north-west of Alice Springs, Northern Territory, and covers the period 18th November 2015 to 17th November 2018. Exploration License EL 27995 was granted to Tychean Resources Ltd (Tychean; formerly ERO Mining Ltd) on 18th November 2015 for a period of 6 years. During 2014, Ramelius Resources Ltd entered into a Farm-in Agreement with Tychean Resources Limited, comprising the Tanami Joint Venture, which includes EL 27995. Ramelius are operators of the project. At the end of the 3rd year of tenure the license was reduced to 25 sub-blocks from the original 40. This partial relinquishment report refers to work carried out on the 15 relinquished sub-blocks for the total period of tenure. The target commodity on EL 27995 is gold. Work carried out on the relinquished area during the period of tenure comprised a compilation and assessment of all open-file data, aeromagnetic interpretation, target generation and planning of a reconnaissance Air Core drilling program. A field visit was conducted to determine access routes for the drilling, with earthworks subsequently completed to upgrade an existing track from Tanami Downs Station.