Talbot North Project EL 27806 Annual Technical Report for the period 14 July 2014 to 13 July 2015

Abstract

This report discusses exploration activities on EL 27806, located c. 610km north-west of Alice Springs, Northern Territory, for the fifth year of tenure, covering the period 14th July 2014 to 13th July 2015. During the previous reporting period, Ramelius Resources Ltd entered into a Farm-in Agreement with Tychean Resources Limited, comprising the Tanami Joint Venture, which includes EL 27806. Ramelius are operators of the project and can earn an 85% Joint Venture Interest in the tenement package by sole funding $500,000 over 3 years. No fieldwork was carried out on the license during the reporting period. Work completed included further compilation and interpretation of historical exploration and open file government data, and refined targeting strategy for the project. An attempt was made to access the project during November, 2014, with a field crew mobilised to the Tanami region. However, access to the tenement was not possible owing to extensive bushfires in the district, and fieldwork was subsequently postponed. During the next 12 months planned exploration activities include geological reconnaissance (including collection of rock-chip and orientation soil samples), regolith mapping (to gauge the effectiveness of historical sampling) and a re-interpretation of available aeromagnetic data to gauge the significance of the known mineralisation within the Talbot North area. Drill-testing may be planned for the following 12 months.