Geophysics and Drilling Collaborations Program 2021 Resourcing the Territory EL 32282 and EL 32296 Gravity Survey Report, Georgina Basin, NT

Abstract

Knox Resources Pty Ltd (Knox or the Company) applied for and was successful in seeking exploration grants with the Northern Territory Geological Survey (NTGS) as part of the Round 14 of the 2021 Geophysics and Drilling Collaboration and the Northern Territory Government's four-year 'Resourcing the Territory' initiative. The co-funding grant was applicable to Exploration Licence (EL) 32282 and EL 32296 located within the Georgina Basin, Northern Territory, to acquire a ground gravity survey based on a spacing of 1 km x 1 km grid. Both titles are held by Knox on a 100% basis. Knox is a wholly owned subsidiary of Greenvale Mining Limited, a public listed company on the Australian Securities Exchange (ASX) with ticker code GRV. Both titles were granted on 23 September 2020. Improving the resolution of the ground-based gravity data will assist when interpreting stratigraphic units and structures, particularly in areas that are magnetically 'quiet' and, in EL 32282 particular where only sparse 4 km x 4 km spaced gravity data were previously available. The regional area has been historically explored for phosphate and iron oxide copper gold (IOCG) style mineralisation; however, a review of open file historical data and exploration reports suggests no previous mineral occurrences have been recognised in the area covering EL 32282 and EL 32296, largely reflecting the extensive Georgina Basin cover within this area. Pre-competitive geoscience studies in the area by Geoscience Australia and NTGS, and a recent Geoscience Australia IOCG 'Prospectivity' map (Skirrow et al., 2019) highlighted the area as being highly prospective for Tennant Creek-style IOCG mineralisation. Atlas Geophysics Pty Ltd (Atlas) undertook the gravity survey over EL 32282 and EL 32296 from 24 July 2021 to 26 August 2021. Gravity stations were acquired using 1 km x 1 km grid using a helicopter-borne gravity method and utility terrain vehicles (UTVs) for 200 m x 200 m detailed grid configurations. Field data were processed, and inversion modelling undertaken by Resource Potentials Pty Ltd (Resource Potentials) in Perth, with the geological interpretation, 3D modelling and drill hole targeting undertaken by SRK Consulting (Australasia) Pty Ltd (SRK). The acquisition of the detailed gravity over EL 32282 and EL 32296 has greatly added to the NT regional gravity datasets, with the work already completed from these datasets further highlighting the greenfields prospectivity of the East Tennant region. These data provided a better understanding of important structural corridors, distribution and architecture of prospective geological horizons and potential fluid sources and provided greater confidence for drill targeting across the project areas. Four preliminary drill holes (also referred to as the Twin Peaks targets) were designed to test these zones. The magnetic and gravity data indicate high magnetic bullseye targets with coincidental gravity anomalies. Knox is currently undertaking a diamond drill hole program in EL 32282 and EL 32296. Hole KNRDD002 (West) was drilled to 796.6 m and diamond drilling is underway at the second hole, KNRDD004 (East) based on the results of the acquired ground-based gravity and airborne magnetic surveys.