Combined Partial Relinquishment Report for EL 26628 and EL 29828 GR386 Tanami Altura JV Project from 1 March 2013 to 28 February 2021

Abstract

The relinquished area of EL 26628 and EL 29828 formed part of Prodigy Gold NL [(Prodigy) (formerly ABM Resources NL [ABM]) Tanami Altura JV project. The Tanami Altura JV project is located approximately 600 kilometres northwest of Alice in the Tanami Region (Figure 1). These tenements form the GR396 technical reporting group. Prodigy explored the project for the potential of gold and base metal mineralisation. In June 2015 Prodigy entered into a joint venture agreement with Altura Exploration Pty Ltd. (Altura) From the 1st year to the 7nd year of tenure exploration consisted of project wide desktop studies and target generation by Altura and Prodigy. No targets were generated and no on ground exploration was completed in the relinquished area. In 2016 the desktop studies including regional mapping. The mapping resulted in a regional basement geology map scaled 1:500,000 which included the project area (Plate 1). The map represents a merger of NTGS and Prodigy interpretation at this scale. In 2020, in the 8th year of tenure, the time of Covid -19 virus pandemic access restrictions, exploration consisted exploration included the merge of magnetic datasets, desktop studies and drilling. Prodigy commissioned Perth based geophysical consultant Resource Potentials Pty. Ltd. to process and merge airborne and ground magnetic datasets resulting in GIS layers showing a significantly improved resolution compared to images from the previous 2009 merger. A desktop study, including all Prodigy tenements, to create a regolith characterisation and drilling effectiveness map advanced. This was achieved by exploring different ways how the Multi Element data can be used for interpretation / classifications, recognizing the data limitations via analysis with the Orange software, and finally combining the learnings with remote sensing and geophysical data to update previous regolith interpretations. A total of 5 AC drill holes for 141m were completed as part of the Bluehart prospect drilling program. The best result of 7ppb Au came from BHAC2002 from a depth of 12m to 15m. In February 2021 a project wide tenement holding assessment led to the conclusion that a total of 59 blocks were un-prospective for gold or base metal mineralisation. Consequently, a voluntary partial relinquishment was lodged in respect of 19 sub-blocks for EL 26628 and 40 sub-blocks for EL 29828 at the end of the 8th year of term of the licence, 28 February 2021.