Annual Report for tenements EL 25467 and EL 29021 GR342 reporting period 15 August 2017 to 14 August 2018 Yalco Project

Abstract

EL 25467 and EL 29021 ('GR342') is owned by Marindi Metals Pty Ltd and in the reporting period was operated by Teck Australia Pty Ltd. The two tenements are located with the McArthur River basin within the Batten Fault Zone structural corridor and along strike, North of the established world class Paleoproterozoic McArthur River (HYC) Pb-Zn-Ag deposit. Exploration carried out during this period consisted of geophysical interpretation across the tenement package and 1 deep diamond drill hole to a depth of 781 m located on EL 25467. This preliminary program was designed to gain an understanding of how well the geophysical data sets represent the lithostratigraphy at depth. The single diamond drill hole was used as a proxy to help develop an understanding and assess the accuracy of geophysical techniques to predict with minimal error, target depths for future drill programs.