EL 31951 Elkedra Project Partial Relinquishment Report 2022

Abstract

The relinquished area of EL 31951 formed part of the Elkedra North Project. The licence is held by Magnet Exploration Pty Ltd and exploration work has been conducted by EARTH AI OPERATIONS AUSTRALIA PTY LTD, part of EARTH AI Group of companies further referred to as EARTH AI. The tenement is located approximately 400km north-east of Alice Springs and 200km south-east of Tennant Creek in the Barkly Region of the Northern Territory, Australia. EARTH AI has developed proprietary Artificial Intelligence (further referred as AI) technology for mineral targeting that utilises archived remote sensing, geophysical and geochemical data to target new mineral deposits. The tenement area has been explored for the potential of vanadium, lead, copper, silver, and zinc mineralisation. The Elkedra prospect was located due to our AI technology predicting its location. There are no known mineral occurrences within the title area. We have conducted a literature review of all previous work done in the area though this did not give us any relevant insights. Even near the title area there are no known prospects hosted in similar geological units of similar age or in a similar structural setting that could be thought of being related to the same mineralisation event. We have conducted our own fundamentally new research to understand the geology of the area. This report covers exploration activities carried out within the relinquished blocks from the period 19th march 2019 to 23rd March 2022.