Highlands Plains Project and Exploration Targets Exploration Licences EL 25068, EL 28152 and EL 28153 Group Annual Geological Report GR-096/09 for the period ended 7 August 2016

Abstract

Tenements EL 25068, 28152 and 28153 are in the Barkly Tablelands of the Northern Territory on the Mount Drummond, Alroy and Ranken 1:250,000 map sheets. The area experiences a sub-tropical climate with the wet season occurring from November to March. During this time the area can be difficult to traverse by vehicle as access roads become flooded. In the dry season the area is accessible by 4WD vehicle via pastoral tracks from the western and eastern sides of the tenements. Phosphate Australia Limited pegged the tenements between November 2005 and June 2015 further to a target analysis of the area using publicly available remotely sensed data. The ground was chosen because of its numerous Uranium channel radiometric anomalies coupled with the existence of published phosphate and iron occurrences. All granted tenements are 100% held by Phosphate Australia Limited. During the reporting period the tenements were managed until the March quarter by Jimpec Resources under a Joint Venture Option Agreement covering the Manganese and Iron rights for EL 25068 and EL 28152-28153. A helicopter-supported field sampling trip was undertaken in August 2015 to test for outcropping along-strike extensions to phosphate mineralisation. Twelve samples were collected, returning a maximum surface grade of 2.13% P2O5. On 15th July 2016 POZ granted an Option to P2O5 Ltd over the Highland Plains project. The Option is for ninety days from the commencement date and entitles the incoming party to enter into a Joint Venture with POZ over the project. EL 28152 was surrendered in January 2016.