EL 31079 Bowgan Second Annual Report for the period 19 August 2017 to 18 August 2018

Abstract

This report outlines work carried out within EL 31079 during the period August 19th, 2017 to August 18th, 2018 and is submitted as the second annual report for the tenement. Toeprint Resources Pty Ltd was transferred the EL 31079 license on the 15th June 2018 from Footprint Resources Pty Ltd. Toeprint Resources identified this region as having the potential to host a SEDEX style base metal deposit, based on its structural location, potential to host Mt Isa - McArthur River age stratigraphic sequences, and shallow cover which has hampered discovery by previous explorers. It is interpreted that the extension of the Fish River Fault, which controls the Walford Creek base metal deposit further to the east, passes through the target region and is intersected by major NW and N-S trending cross faults. Previous workers have targeted diamonds, uranium and base metals, but very few drill holes have pierced the extensive Cambrian and South Nicholson Group Cover sequences. Work completed during this period included evaluation of the recent NTGS Batten Trough Gravity Survey. Targeting has identified a potential thickening of prospective stratigraphy along the axis of the Fish River Fault Zone. The associated gravity low area may represent sub-basin development of the Fickling Group/McArthur Group sediments which host the significant SEDEX deposit in the region. Additional work included the detailed compilation of historic exploration and post the withdrawal of Footprint's financial backer, Antofagasta Minerals, processing and presenting this data to multiple parties to attract the funding required to conduct the next phase of exploration.