Lake Woods GR369 Amalgamated Technical Report EL 28199 and EL 30181 for the period 29 April 2015 to 28 April 2016

Abstract

This Amalgamated Annual Report covers Year 5 of EL 28199 and Year 1 of EL 30181. The subject licences are held by Crossland Diamonds Pty Ltd and operated by Crossland Strategic Metals Limited (Crossland). The main focus is on diamond exploration. Diamond Hard Pty Ltd (ACN 611 1903 938) had originally entered into a joint venture arrangement with Crossland in 2013 to fund all exploration on the two licences. In January 2016, Diamond Hard purchased the two licences. The transfer process is in progress at the time of writing this report. The project is located approximately 700 km south of Darwin and 200 km north of Tennant Creek, immediately west of the Stuart Highway and just south of the community of Elliott. The area was originally identified as a conceptual target area based on proprietary methods and modelling conducted by Paradigm Geoscience Pty Ltd. The principal target commodity was diamonds. In later years additional exploration concepts were developed, which involved the search for base metals and copper-nickel-platinoids. Historical exploration in the region had focused on the potential for diamonds and base metals, but was limited due to poorly developed drainage and widespread alluvial and aeolian cover. During the subject period, a low level airborne magnetic-radiometric survey took place. The consultant Geophysicists Report (Appendix 1) contains details of the conclusions reached and the recommended work to be carried out based on those conclusions. In summary, the consultant recommends a core drilling programme to characterise the anomalies. The holes are planned to be relatively shallow (up to 120 metres) and inclined. Should the anomalies prove to be potentially diamond-bearing features then further activities such as bulk sampling or perhaps ground-based geophysics be implemented.