Charley Creek, Combined Annual Report for the period 7 February 2013 to 6 February 2014 EL 24281, EL 25230, EL 27283, EL 27284, EL 27338, EL 27358, EL 27359, EL 28154, EL 28155, EL 28224, EL 28225 and EL 28226

Abstract

This Combined Annual Report covers exploration work carried out on the subject licences as held by Crossland Nickel Pty Ltd and currently operated by Crossland Strategic Metals Limited (Crossland). The project is centred approximately 95 km WNW of Alice Springs in Central Australia. Crossland has been exploring the region since 2004, initially for ultra-mafic hosted nickel deposits then uranium following recognition of the potential of the Teapot Granite, a highly fractionated granitoid, which has anomalously high uranium and thorium content. Following an aircore drilling program in 2008, which was carried out to check the potential of buried channels for redox-style uranium, some samples collected from the drill holes showed anomalous amounts of Rare Earth Elements (REE). Since that time extensive regional exploration has shown that the alluvial outwash plains, draining the foothills of the MacDonnell Ranges, contain widespread accumulations of REE-bearing minerals derived from decomposition of the Teapot Granite and its host rocks. Activities involving REE exploration have continued in 2013. Exploration during the period included 106 aircore drill holes totalling 1558.8 metres over four ELs. Additionally, follow up stream sampling was completed at 6 locations and 131.2 line-km of ground geophysics was completed. Crossland also completed extensive metallurgical test work on large samples from the project, and these formed the basis of a Scoping Study for the Project that was released during the period. Crossland has commenced a staged Feasibility Study of the project, including target drilling of areas selected as potential sites for higher grade starter pits, as well as baseline environment studies.