EL 30294 Jervois Project (GR498) Partial Surrender Report Anniversary No. 5, 4 April 2014 to 9 December 2019

Abstract

The Jervois project is located on the Plenty Highway in the central eastern part of the Northern Territory, approximately 400 km east north-east of the regional centre of Alice Springs. The project consists of two exploration licences; EL 30294 and EL 31851 which are reported on under combined licence GR498. Exploration at the Jervois project is currently targeting economic occurrences of copper-lead-zinc, silver and gold in a similar structural setting to the historical Jervois deposits. On grant, EL 30294 comprised 157 blocks, which was reduced to 88 blocks at Anniversary No2 with a variation of surrender (Form af29) being lodged on 25th November 2016. No reduction was completed at Anniversary No4 with a variation of surrender request (Form af29) being lodged on 3rd November 2018. Potential for economic occurrences of copper-lead-zinc, silver and gold has been identified within the surrendered portion of EL 30294 based on the limited exploration field work conducted to date by tenement operator Bowgan Minerals Limited. However, the overall prospectivity of this part of EL 30294 was considered to have a low priority when compared to other priority targets interpreted within the Lucy Creek corridor on the western side of the tenement. This led to the decision being reached by management of Bowgan Minerals Limited to conduct a voluntary partial surrender of 44 blocks, or 50% of EL 30294 during December 2019. This report presents a summary of all exploration work completed to date, on the surrendered portion of EL 30294 by the operator Bowgan Minerals Limited.