Carrara Project Combined Final Surrender Report and Annual Report for the period 21st January 2013 to 22nd October 2019

Abstract

This document is submitted as a Final Surrender Report for EL 29557, EL 29560, EL 30816 and EL 31538, which are part of 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 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. Historically exploration on the project has been focused on exploring for SHMS mineralisation around the Carrara Ranges, but excluded EL 31538, EL 29557, EL 29560 and EL 30816. Exploration activities over the relinquished tenements and Carrara project area in the period from 21st January 2013 to October 22nd 2019 comprised a: Review of literature and historical data; Compilation and integration of data into a revised stratigraphic and structural interpretation; Development of a conceptual basin model and targeting framework; Re-evaluation of previously identified target areas; Detailed structural interpretation of the area based on regional geophysical datasets as well as modelling of magnetic data to assess depth to basement and interpret basin development under cover; Historical drilling and borehole data review to evaluate the depth of Cambrian cover; A significant geophysical program was completed during the 2015-2016 reporting period comprising Audio-magnetotellurics (AMT), ground gravity, and EM surveys; 1 drill hole in 2016; 800.42m - (EL 30665); EM; SMARTEM in 2016; 184 stations - (EL 29560, EL 29793, EL 29794, EL 30665); Remodelling of gravity dataset; Interpretation of 5 seismic lines released by GA in March 2018. The four Exploration Licences are surrendered in full as the prospective window for the target stratigraphy was deemed to be below the current exploration depth window and therefore no further work was planned.