EL 31997 Phillip Creek Project Final Report 2021, 07 May 2019 to 06 May 2021

Abstract

EL 31997 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 percent success rate. The Phillip Creek project was one of the successfully predicted mineralised sites, during preliminary exploration. We have discovered anomalous V geochemical results and thus made a decision to apply for a mineral title. Phillip Creek was found 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. This year's work has been heavily impacted by COVID-19 related travel restrictions and logistical supply chain problems. We weren't able to perform fieldwork and collect new field data on EL 31997. Unfortunately, due to the very long and unpredictable nature of the COVID-19 pandemic we don't see the possibility for us to logistically support and continue investing in the exploration of this project. In case the situation becomes suitable after the pandemic, we would like to revisit the project in the future as well as encourage other explorers to build up on our work in the area.