Annual Technical Report GR348 Jervois Domain Project 1 January 2015 to 31 December 2015 EL 29579 'Jervois North' EL 29580 'Jervois East' EL 29581 'Jervois West' EL 29669 'Jervois South'

Abstract

This is the second Group Reporting of Core Exploration's (CXO) Jervois Domain Project (GR348) comprising four exploration licences (EL's 29579, 29580, 29581 and 29669) which are held 100% by DBL Blues Pty Ltd a wholly owned subsidiary of Core Exploration Limited. Each of these tenements are now in their third year of tenure. The project area is dominated by parts of the Aileron and Irindina Provinces as well as the Georgina Basin. The basement in the area consists of sedimentary and igneous rocks of the Aileron Province of Palaeo-Proterozoic age (1865-1500Ma). The rocks have been metamorphosed to upper green-schist to lower amphibolite facies during the Strangways Orogeny (1740-1690 Ma). During 2015, CXO has been very active exploring its Jervois Domain tenure. The following key activities were undertaken: Magnetic modelling and targeting by CSIRO; AEM modelling and interpretation by CSIRO; Geological mapping and surface geochemical sampling over EL's 29580 and 29581; RAB drilling on the 'Big J' feature located on EL 29580. A total of 247 vertical holes were drilled for a total of 3,152.3m on five broad spaced traverses (B, C, D, F and H) on 50m centres with 22 redrills to extend anomalous holes. CXO has been disappointed with the work undertaken by CSIRO due to a lack of deliverables, significant delays getting work undertaken, general poor communication, and inability to address the planned objectives. Final reports and data from the VTEM processing are still outstanding. CXO is though very encouraged by the soil sampling methodology which relied on just using a handheld XRF to analyse prepared samples. CXO is especially happy with the results of the initial RAB drilling which consistently returned anomalous copper and zinc results that are comparable to the RAB results recently announced by KGL drilled adjacent to the outcropping mineralised Jervois Line of Lode. The five broadly spaced RAB traverses have demonstrated there is potential for over 12 kilometres of strike along the 'Big J' feature.