EL 23722 Annual Technical Report for the period 18 September 2018 to 17 September 2019

Abstract

EL 23722 is located approximately 70 km south of Darwin and 8 km 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 & Wolpers Grahl Pty Limited leaving J. A. Earthrowl with a 50% interest (Lori, 2018). During 2005, the licence was reduced from ten (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. A renewal application was lodged during the reporting period. Activities during the reporting period have focussed on the compilation of exploration works completed by Doe Run. This succeeds the termination of a Heads of Agreement between Cove House and Northern Territories Resources ('NTR' or the 'Company') through which Doe Run were granted an exclusive right to complete detailed geological assessment of nominated tenements held by NTR, including EL 23722. Since termination of this agreement NTR has implemented a sale process targeting identification of a potential purchaser to reinstate project operations and exploration activities.