EL 23722 Combined Annual and Final Report for the period 18 September 2019 to 17 September 2020

Abstract

EL 23722 is located approximately 70km south of Darwin and 8km west of Batchelor. Access from Darwin is via sealed roads to Batchelor and then westward via Fowler Road or Litchfield Park Road. EL 23722 was granted on the 18th September 2003 to J. A. Earthrowl, originally comprising ten (10) blocks. On the 6th October 2003, J. A. Earthrowl transferred a total of 50% equity equally between five partners; Kimalta Pty Limited, Dolwave Pty Ltd, Poatina Pty Limited, Rodney Hass & Starbase Twenty Two Pty Ltd Pty Limited leaving J. A. Earthrowl with a 50% interest (Lori, 2018). During 2005, the licence was reduced from ten (10) 10 blocks to five (5) blocks. Subsequently, a joint venture agreement was entered into with Compass Resources NL on the 24th July 2006; later transferred to NTR through a series of corporate transactions. Activities over the tenement have formed part of the Company's regional exploration strategy targeting discovery of polymetallic mineralisation within the highly prospective Rum Jungle Mineral Field. Several regional geophysical surveys have been completed over the area including electromagnetics, magnetics and airborne gravity. Activities during the reporting period have focussed on the commencement of a regional prospectivity analysis, including EL 23722 as part of NTR's broader tenement holding. The tenement was subject to a joint venture with NTR who were advised by the current holders that due to no further interest on their behalf, an application for renewal was not to be lodged. Accordingly, the tenement expired on the 17th September 2020.