Yalco Project GR342 Final Combined Annual and Technical Report for tenements EL 25467 and EL 29021 reporting period 15 August 2018 to 10 October 2019

Abstract

The Yalco Project is composed of two tenements EL 25467 and EL 29021 and are part of the combined reporting group GR342. On the 10th of October, 2019, Marindi Metals relinquished the two tenements that make up the Yalco Project. This report summarises the exploration completed on the two tenements from 2008 to 2019. The Yalco Project is highly prospective for shale-hosted massive sulphide deposits containing zinc, lead and silver. The northern extension of the Emu Fault zone, which controls mineralisation at the worldclass McArthur River Zn-Pb-Ag mine 60 km to the south, continues through the western side of the project area defining a structural corridor considered permissive for SHMS systems. During the 2018-2019 reporting period no exploration was completed on the Yalco Project. In previous years during the life of the tenure, exploration activities included, geological and structural mapping, project wide 3D modelling, soil geochemistry, VTEM Survey, Ground Gravity Survey, aeromagnetic and radiometric survey, 2D seismic reflection survey, 2D Audio Magnetotelluric survey and RC and diamond drilling. In 2019 Marindi Metals shifted focus and base metals exploration was no longer a priority to the company. As a result, the Yalco tenements were relinquished. Marindi believes there are numerous targets that remain untested below 500m. The work completed by Teck and Marindi provides a good base to continue building on the geological story in both the tenements.