Carrara Project GR329 Combined Annual Report for the period 21 January 2015 to 20 January 2016

Abstract

This document is submitted as a group report (GR329) for EL's 29557, 29559, 29560, 29561, 29793 and 29794, which comprise the Carrara Project. The Carrara project is deemed prospective for shale-hosted massive sulphide deposits (SHMS) containing zinc (Zn), lead (Pb) and silver (Ag). The Project area lies hosts lateral equivalents to the Lawn Hill Platform's Upper McNamara Group members, which hosts the world class Century deposit. Ground was applied for in 2012 following a preliminary desktop study by Teck's Zn Generative team. Exploration activities completed during the 21st January 2015 to 20th January 2016 reporting period comprised an extensive gravity survey and nine AMT lines. The gravity survey enabled the prospective Proterozoic strata to be interpreted under the black soils plains and Georgina Basin cover, in addition to assisting the structural interpretation through a magnetically quiet region. The AMT survey identified a conductive horizon between 700m and 1,000m below surface which is interpreted to relate to the prospective Plain Creek Formation. The survey also provided additional insights into the structural framework of the covered Proterozoic stratigraphy. An EM survey was undertaken, although will be repeated in early 2016 due to QA/QC failures. The survey results will be reported in the subsequent Annual Report.