Annual Report for the Chariot Group ML 23216, MLC 176 and MLC 177 19 July 2008 to 18 July 2015

Abstract

Exploration activity conducted during the reporting term consisted of; 2008 - 2009 - No activities conducted; 2010 - VRMI applications; 2011 - HeliTEM applications; 2012 - Analysis of VRMI & HeliTEM; 2013 - In-Situ Resources evaluation and Resource Estimate; 2014 - Drilling and Seismic applications; and 2015 - Evaluation of Drilling and Trial Seismic Line. Further drilling is required to continue to extend the identified in-situ resource where possible and the results feedback into the resource estimation and upgraded. Interpretation and target generation is required from the recent trial Seismic survey conducted over the Chariot deposit. Further assessment of the HeliTEM survey is required for a final determination of prospectivity and further drilling.