Third and Final Annual Technical Report EL 31024, 31 May 2016 to 30 May 2019

Abstract

EL 31024 covering seven graticular blocks was applied for on the 7th of October, 2015 and was subsequently granted for a period of six years commencing on the 31st of May, 2016. The target commodity sought in the area was gold and given that the nearby Bandicoot and William gold deposits contain relatively rich coarse gold in 'en-echelon' quartz reef systems we were hopeful of discovering further relatively small rich deposits. Previous appraisals of geological, geochemical and geophysical data indicated that EL 31024 has little mineral potential for economic gold and uranium mineralisation and our intensive exploration efforts have diminished the prospectivity for exposed rich coarse gold occurrences. Although much of the project is covered by thick recent alluvial cover a TMI image of the project area had revealed some deep-seated structures along with subtle magnetic highs just to the south of the tenement which may be an important exploration target for gold mineralisation some time in the future.