EL 31508, EL 31509, EL 31510 and EL 31589 Amadeus Project Group Surrender Report 6 November 2018 to 5 September 2019

Abstract

The Amadeus project comprised of six contiguous exploration licences ELs 31456, 31508, 31509, 31510, 31589, 31737. This is the surrender report for EL 31508, 13509, 31510 & 31589. EL 31737 was surrendered previously on 08/08/2019 leaving only EL 31546 being actively explored by BMEx. Amalgamated Group Technical reporting was granted for the project under title GR489 on 15th August 2018. The area being surrendered covers 1,966 sq km. It is approximately 100 km south of Alice Springs in the Eastern Amadeus basin, with the Stuart Highway dissecting the western margin of the original project area. The project area was targeted after a systematic analysis of the Northern Territory Geological Survey's database of exploration data extending back to the 1960's, and review of the COBRA report highlighting a first order zinc and cobalt anomalism in a favourable environment for mineralisation. The Amadeus Basin is part of an extensive belt of Neoproterozoic rocks which extends from the Paterson Province in northern Western Australia through to the eastern Amadeus Basin, east of Alice Springs. The Paterson Province hosts the Telfer gold mine and Nifty copper mine and Maroochydore copper deposit. The Paterson Province and Amadeus Basin also share equivalent age, geology and tectonic history to the Neoproterozoic African Copper Belt Basins. Major zinc discoveries in African Neoproterozoic Belts include Skorpion and Kipushi. The Amadeus Basin, while sharing an equivalent geological history as the Paterson Province and the African Copper Belt, has received only a fraction of the exploration activity, most of which was completed in excess of 20 years ago. Due to the prolonged economic downturn and lack of investor appetite for green field exploration, BMEx has had to rationalise its tenement holdings globally. During its tenure, work consisted of stakeholder access negotiations including the finalisation of an exploration agreement with local traditional owners, historical data compilation, desktop reviews and reconnaissance access, geochemistry and geological mapping. Multi element geochemical assay results for 68 rock chip samples. BMEx believes the project area warrants significant further work, however due to restricted funding, will focus exploration efforts on the Maryvale zinc Trend in EL 31546.