Annual and Final Report for EL 28850 Period from 5 March 2012 to 27 February 2019 Victoria River Downs Project

Abstract

The Victoria River Downs Project area is located in the Northern Territory of Australia and situated about 425 kilometers south of Darwin. The project is made up of 5 exploration licenses, EL 28850 lies south of these leases. EL 28850 initial area is 131.75 square kilometers. After three times reduction, the EL's area is 13.17 square kilometers now (4 blocks). Vehicle access to the project area is via the Victoria, Buchanan and Buntine Highways, thence station tracks. The Proterozoic Victoria River Basin (VRB) consists of a 3.5 km thick stratigraphic sequence of sandstone, shale and dolomitic sediments, covering an area of 160,000sq kms, overlying the Birrindudu Basin and has the potential for sedimentary hosted zinc dominated base metal deposits similar in style to the giant McArthur River, Cannington and Century deposits. The Bullita stratigraphic succession is considered to have potential to host strati form sedimentary, Mississippi and Irish lead-zinc styles of mineralisation. These deposits are associated with the fine grained clastic rocks (black shales) of a sedimentary package, which contains substantial dolomites and limestones, and are located near major regional structures with a halo of lead anomalism. The target size is in the order of 1-2 million tones at 10% combined Pb/Zn. Age dating within these sequences suggest dates from 1,645my (Limbunya Group) to 1,610 - 1,570my (Bullita Group), which is within the age range of all major Australian SEDEX zinc deposits. Throughout the Victoria River Basin the stratigraphy is generally flat lying or shallow dipping. However, there are a number of localised dome features adjacent to prominent faults or lineaments. Previous base metal explorers include BHP, CRA, Rio Tinto, Anaconda, Anglo plus junior companies and diamond exploration has been undertaken by Stockdale, BHP and Ashton. These exploration programs for base metals include stream sediment sampling, Geotem and aeromagnetic surveys. Limited stratigraphic diamond drilling has been undertaken by BMR, NTGS and various exploration companies. A total of about 10 stratigraphic holes have been drilled around those lease. In the past few years, Anglo Australian Resources NL (AAR) hold this area, AAR has reprocessed geochemical data and Geotem, gravity, aeromagnetic and Landsat images for generating new exploration target in this area. BHP previously flew Geotem over about 20 percent of the VRB project area but conducted no significant ground follow up. This data has been reviewed by Southern Geoscience geophysical consultants identifying 17 prospective Geotem conductors at the east of EL 28850, AAR included stream sediment, soil, rock chip sampling programs and helicopter-supported gravity survey. This work has been successful in that the stream sediment samples have confirmed the robustness of previous anomalies identified and highlighted prospective areas of interest in the vicinity of the Victoria River Downs Homestead. EL 28850 is granted to Australia Mining and Gemstone Co. Pty. Ltd (AMG) in March 2012, AMG collated and re-plotted historic data in the MapInfo. During the August 2012, AMG staffs taken a field trip on the bedrocks around No.1980 Lead occurrence. EL 28850 was surrendered on 27 February 2019.