Year 4 Reduction Report Exploration Licence 31623 Mosquito Creek for the Reporting Period 20 August 2018 to 19 August 2022

Abstract

EL 31623 is part of Treasure Creeks new Tennant Creek tenement package and is part of an overall exploration strategy targeting iron oxide copper gold mineralisation in the region. The company has undertaken significant historical, geological and geophysical data review on the tenement with over 100 historical reports downloaded for tenements in the area but work is ongoing. A geophysical review of available data for Treasure Creeks Kurinelli and Kurundi Projects has commenced (by Geophysical Consultants - Resource Potential). Multiple gravity and magnetic images have been produced. There are multiple targets within the tenement and review work is ongoing. The primary target on this tenement is IOCG within the Warramunga Formation (Host to the Tennant Creek and Rover gold fields) under shallow Cambrian cover. The company is planning to ustilise a new geophysical technique called passive seismic which will allow information to be gained on cover sequence depth and also possibly identify any dense bodies (possible ironstone bodies) up to 600m below surface. At the end of year 4 there were 50 blocks retained. There was no exploration completed on the relinquished blocks during the time they were held. The ground relinquished is interpreted to be over granitic rock and is not considered prospective for IOCG mineralisation.