EL 30832 Annual Report for the period 13 July 2019 to 12 July 2020

Abstract

This report describes exploration activities conducted on Frances Creek tenement EL 30832 by the operator, Linecrest Pty Ltd from 13th July 2019 to 12th July 2020. EL 30832 was transferred to Trendsheer Holdings Pty Ltd in 3rd quarter 2019 and Linecrest was appointed Operator December 2019. EL 30832 comprises graticular blocks of partially surrendered tenements EL 24040 and EL 29015 (Glass, 2015a and Glass, 2015b). EL 24040 and EL 29015 underwent partial relinquishment whereby 16 blocks (13 from EL 24040 and 3 from EL 29015) were surrendered. Six graticular blocks from EL 24040 were retained and amalgamated with a single graticular block from adjoining tenement EL 29015 to form new tenement EL 30832. The Notice of Intention to Issue Replacement Title (dated 2nd July 2015) was granted for EL 30832 on the 13th July 2015. Upon grant of EL 30832, the six retained blocks of EL 24040 and single block from EL 29015 were automatically cancelled. EL 30382 was subsequently agreed to be transferred to Trendsheer Holdings Pty Ltd in May 2019. The transfer was completed in in the 3rd quarter of 2019, subsequent Authorisations were completed in January of 2020, assignment of the Native Title agreements were completed in September 2020, Linecrest as operator has subsequently engaged external geologist to review all exploration potential. Exploration activities during the reporting year for EL 30832 included desktop studies and evaluation of earlier acquired geological data, geochemical assay and geophysical data to further assess the economic mineral potential of the tenement. These reviews have expanded recently to reassess the potential for other commodities on EL 30832.