Part Annual and Final Surrender Report on EL 31340 Silver Valley 7 April 2018 to 19 July 2019

Abstract

EL 31340 was targeting metalliferous mineralisation in the Murray Downs Dome in the Davenport Province. The EL has a history of small-scale lead mining going back at least to the 1950s and despite the name "Silver Valley" and the high Ag grades, silver was not considered the primary target historically. There are several named Pb-Ag vein prospects called Silver Valley 1-4 and other unnamed outcropping epigenetic polymetallic prospects within the EL. There has been no systematic (gridded) surface sampling, no drilling (other than possibly undocumented work in the 1960s at one prospect) and there is no local geophysical data. All available previous work on the prospects and the EL generally was captured and assessed by Verdant Minerals. Updated geochemistry and prospect descriptions were provided to NTGS to update and correct MODAT. The historical data was interpreted as encouraging by Verdant Minerals. EL 31340 is located in Davenport Ranges Zone of Conservation Significance on Murray Downs Perpetual Pastoral Lease east of Ali Curung and between the company's Singleton and Ammaroo phosphate projects. In the north, EL 31340 borders Aboriginal Land/Davenport Ranges National Park. An AAPA Register Search showed there are no sites of significance on the EL. It was proposed to acquire geophysical data over the EL to locate drill targets. A quote for a sub-audio magnetics geophysical survey was obtained and cheaper alternatives were also investigated. However, Verdant Minerals was taken over by CD Capital and the new Board decided to surrender Silver Valley EL 31340 in full, immediately. Verdant Minerals has not acquired any new data and the prospectivity remains untested.