Partial Relinquishment Report Exploration Licence EL 31251 for the Period 23 November 2016 to 22 November 2022

Abstract

EL 31251 was granted in November 2016. First and second partial relinquishments were effected in October 2019 and November 2020 respectively, and 3rd partial relinquishment in November 2022 following six years of tenure. Primary target commodities are base metals, gold, nickel, cobalt, PGE's, Mo and W. There are no mines or deposits within the tenement area. EL 31251 covers the eastern end of the mooted Illogwa IOCG belt first recognised by NTGS in 2010 and comprehensively worked by Mithril until 2014. They discovered numerous cropping out copper in granite prospects often associated with zones of regional hematite-magnetite-fluorite-silicic quartz vein - hosted alteration trending east south east over a strike length of 50km within a belt over 5km wide. Within EL31251 seven copper prospects coincident with copper in soil anomalies +/- gravity/magnetic responses crop out over a 6km x 4km area. Gempart believes, on the basis of the previous exploration results, that potential exists for IOCG-type deposits associated with altered granites or skarn deposits in Arunta Complex, and sediment-hosted base metals in the Amadeus Basin. Most exploration activities in the first six years of tenure focussed on the block of Arunta Complex encompassing the prospects defined by Mithril Resources, which is within the boundary of the retained tenement. As such very little work has been carried out within the relinquished tenement. The only new data acquired in the relinquished area is 52 ground gravity readings on the eastern end of a larger survey in the retained area, and eight lines of VTEM in the southeast corner. There are no anomalies of interest in the gravity or VTEM data.