EL 31998 Elkedra West Project Final Report 2021, 07 May 2020 to 06 May 2021

Abstract

EL 31998 is a new title secured firsthand 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. 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 Elkedra West project was one of the successfully predicted mineralised sites, during preliminary exploration. We have discovered anomalous Pb and V geochemical results and thus made a decision to apply for a mineral title. The Elkedra West was located due to our AI technology predicting its location and is part of the wider Elkadra Project. There are no known mineral occurrences within the title area although exploration by Earth AI Operations has identified significant Pb-Zn-Cu-Ag mineralisation to the northeast. 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 259 Portable XRF (pXRF) analyses (69 of soil and 190 of rocks), and assayed 3 soil samples and 46 rock samples during the reporting period. Geological mapping accompanied by an extensive portable XRF analysis of rocks and soils has also been completed. The work has helped us identify several areas of anomalism and further work is planned to delineate the surface extent of anomalism. Work in 2021 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 31998. 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.