EL 31950 Alice Springs Project Annual Report 2020, 27 June 2019 to 26 June 2020

Abstract

EL 31950 is a new title secured first hand by Magnet Exploration Pty Ltd in 2019, after preliminary exploration work conducted by EARTH AI Operations Australia Pty Ltd, part of EARTH AI Group of companies further referred to as EARTH AI. EARTH AI has developed proprietary Artificial Intelligence (further referred as AI) technology for mineral targeting that utilises archive remote sensing, geophysical and geochemical data to target new mineral deposits. In 2018, EARTH AI embarked on a major Northern Territory-wide field campaign of rapid preliminary exploration targeted by the AI predictions and field validated by self-sufficient internal geology teams conducting portable X Ray Fluorescence (XRF) analysis of soils and rocks as well as soil and wholerock sampling. The work was conducted on pastoral properties without mineral tiles. We tested 132 sites, confirming geochemical anomalies on 35 of them, yielding an impressive 26% success rate. The Alice Springs project was one of the successfully predicted mineralised sites, during preliminary exploration. We have discovered anomalous Zn geochemical results and thus made a decision to apply for a mineral title. The project was located due to our AI technology predicting its location. There are no known mineral occurrences within the title area. A literature review of all previous exploration conducted in the area has provided some indication of neighbouring mineral systems and provided information on the local observed geology. Our exploration programs will leverage from the existing surrounding data to assist us in conducting our own research to understand the geology of the area. We have completed 478 Portable XRF (pXRF) analyses (114 of soil and 364 of rocks), and assayed 42 soil samples and 103 rock samples during the reporting period. Further work is planned to assess the full extent of anomalism. Outcropping lithologies are dominated by quartzofeldspathic to calc-silicate paragneiss and orthogneiss. Anomalous Zn was encountered in assays and anomalous Ag, Mo, Zn, P in pXRF analyses. Re-assaying of rock pulp with near total digest will be completed to remove potential discrepancies in assay digest method.