Combined Annual Report EL29787 and EL29903 for the period 08 July 2019 to 07 July 2020

Abstract

Lake Lewis Project, incorporates the EL 29787 and EL 29903, is situated about 200 km westnorthwest of Alice Springs on the NAPPERBY 1:250,000 Geological Series Map Sheet, SF 53-9 map sheet. The EL 29787 is comprised of 48 blocks and was granted on July 8th 2013 to Piper Preston Pty Ltd (now a wholly-owned subsidiary of Wildhorse Energy Ltd). The prime commodity sought is Sulphate of Potash (SOP); however, as this mineral does not naturally or directly crystallise from salt lake brines the exploration rationale is based on systematic exploration, evaluation and confirmation of replenishable brine resources contained in the tenement proper, prior to mineral process engineering evaluations and establishment of recoverable SOP from mineral brine resources. As the definition of groundwater recharge capacity of the lake is a prime importance for mineral brine resource evaluations, work carried out by the Company on the EL 29787 and EL29903 geophysical review of all available data and re-interpretation and water sampling a total of 50 samples (EL 29787 22 and EL 29903 28 samples) taken. The AAPA was also contact in early 2016 to complete at Native Title Clearance Survey but it has not been to date. During the reporting period Piper Preston completed a ground based gravity survey across the tenement holding. The survey included 527 gravity stations on 21 south east to north east trending traverses and was completed by Haines Survey out of Adelaide.