Annual Report for Exploration Licence 24915 Dufaur Lake Mackay Project from 1 November 2015 to 22 September 2016

Abstract

Independence Group NL., Perth (IGO) is currently earning in to a joint venture covering this tenement and adjoining tenement applications that encompass ABM's Lake Mackay Project. IGO is currently exploring the Lake Mackay Project for gold and base metals. Exploration during the reporting period consisted of tenement wide geological mapping, 634 infill surface geochemical samples, 59 rock chip samples, 79.4 line km of moving loop electromagnetic (EM) surveys over 8 prospects, 2 water bores for 108m and 4 RC holes, 2 RC pre-collars for 754.8m, 305 RC samples and 6 RC thin section, 2 diamond holes and 2 diamond tails for 517.7m, 168 diamond core samples and 46 diamond core thin sections. All RC and diamond holes had downhole EM surveys (DHEM) completed. GeoEye imagery covering the entire tenement was purchased. An airborne magnetic and radiometric survey covering the entire tenement was initiated as part of a larger regional survey. The final data from the survey was not available at the time of reporting. The drilling at Bumblebee was initially targeting an EM conductor below the mineralisation that was intersected in the 2015 drill program. The conductor was found to be caused by network textured pyrrhotite formed during peak metamorphism. The Au, Ag, Cu, Pb, Zn, Bi and Co mineralisation are interpreted to be related to the later development of a major structure with the involvement of hydrothermal fluids. The single hole drilled at Springer returned broad low level gold anomalism.