EL 31686 McArthur River Project Northern Territory Annual and Final Report 01 August 2020 to 14 October 2021

Abstract

This is the third and Final Annual Report for EL 31686, located 90 km southwest of Borroloola in the McArthur River Zinc district of the Northern Territory. It presents a summary of work completed over the duration of tenure from initial grant on 1 August 2018 to surrender on 14 October 2021. Work completed included data compilation, re-assessment of historic geophysical surveys and initial field work preparations. It was concluded that no further geophysical or geochemical surveys should be conducted until initial stratigraphic drilling was completed; as a result of the onset of COVID-19 in early 2020, all work was subsequently put on hold until further notice. The presence of substantial base metal deposits such as the McArthur River Zn mine and the Teena Zn resource provide evidence of viable resources within the district. BMEx considers the most desirable formation for base metal resources to be below historic exploration, between 200-500 m deep. Existing geophysical data fails to conclusively provide targets, therefore stratigraphic drilling is recommended. BMEx has recently come under new ownership, with a resultant change of exploration focus, and has subsequently surrendered EL 31686.