Annual Report on EL 30225 Burge Bore Phosphate Project 15 May 2018 to 14 May 2019

Abstract

EL 30225 is a stand-alone EL in the Wiso Basin that straddles the Central Australian Railway, 210-220 km northwest of Tennant Creek. It is held to explore for Cambrian rock phosphate. Verdant Minerals Ltd has undertaken an in-house assessment of the waterbores in the general area and a reappraisal of previous work by CSIRO and Vale. This led to the voluntary partial relinquishment of 55 blocks before the first anniversary. The most prospective 108 blocks, with phosphate potential above the watertable and outside the area of inundation of Lake Woods, were retained. Desktop studies continued during the current reporting year. During the reporting period, Verdant Minerals has been subject to a take-over by CD Capital. Depending on direction and funding from CD Capital, it is still proposed to drill test EL 30225.