Talbot North Project EL 27806 Annual Technical Report for the period 14 July 2015 to 13 July 2016

Abstract

This report discusses exploration activities on EL 27806, located c. 610km north-west of Alice Springs, Northern Territory, for the sixth year of tenure, covering the period 14th July 2015 to 13th July 2016. During 2014, Ramelius Resources Ltd entered into a Farm-in Agreement with Tychean Resources Limited, comprising the Tanami Joint Venture, which includes EL 27806. Ramelius are operators of the project and can earn an 85% Joint Venture Interest in the tenement package by sole funding $500,000 over 3 years. An initial field assessmentwas made of the project. Work comprised reconnaissance and rock-chip sampling over several areas of interest defined from open-file data, as well as pXRF soil sampling over the main structural target. A total of 6 rock-chip samples were collected and 42 soil samples analysed. A concealed jog feature in the DBF stratigraphy in the central part of the license, corresponding with weak Au and As surface anomalism is worthy of follow-up. A limited vacuum or RAB drilling programme, to assess the structure under colluvial cover, is planned during the next reporting period.