EL 29699 Annual Report for the period 11 July 2015 to 10 July 2016

Abstract

The lease was originally applied for based on the potential for tin, tantalum and niobium mineralisation associated with pegmatites of the Bynoe Pegmatite Field. LRL (Aust) Pty Ltd maintains an interest in these commodities, however the focus for exploration into the future is expected to be for lithium mineralisation, also within the pegmatites. Prior to the transfer of ownership of the tenement on 26th May 2016, Au Exploration did carry out exploration on the tenement during the current reporting year, however no detail of this activity has been provided to LRL (Aust). Au Exploration are known to have visited the location, and use portable XRF and radon gas analysers, as well as conduct geophysical image interpretation and petrographic examinations. Unfortunately, none of the results, outcomes or reports have been provided to LRL (Aust).Between the tenement transfer date and the anniversary date for the lease, LRL (Aust) conducted a reconnaissance field assessment of the lease over two days, including the taking of several rock chip and grab samples. These were not submitted for geochemical analysis within the reporting period. The field reconnaissance did locate a number of the pegmatite targets. Further work, including detailed prospect-scale mapping, and some reconnaissance drilling, are recommended to advance the project in the coming year.