Annual Technical Report EL 29698 Finniss Project 11 July 2015 to 10 July 2016

Abstract

During 2016, CXO has been very active exploring the Finniss Project. The following key activities were undertaken: Acquisition of a plethora of historic reports and data that relate to the tin-tantalum exploration and production in the Bynoe Tin Field over a period of over 100 years; Review of this data to produce a Summary document; Prospecting, geological mapping and surface geochemical sampling over the entire tenement, data from which had largely not returned from the laboratory at the end of the reporting period; and Acquisition of a baseline Remote Sensed image and spectral data for the tenement. CXO is encouraged by the results of this work to date and believes the project area has the ingredients to become a significant lithium producer in the years to come. This is despite the lack of definitive Li-mineral spodumene at surface in the tenement, which is a function of deep Tertiary weathering. This mineral and the lithium phosphate, amblygonite, have been sparsely documented in adjacent tenements.