McArthur Project Group Annual Report GR367 EL 27711, EL 30085 9 July 2017 to 8 July 2018

Abstract

The McArthur River Project is operated by Todd River Metals Pty Ltd, a wholly owned subsidiary of Todd River Resources Limited. The project comprises two exploration licences, EL 27711 and EL 30085, which lie in the McArthur Basin and in the southwestern portion of the Batten Fault Zone. EL 27711 was granted on 09/07/2010 and EL 30085 on 11/04/2014. Group reporting was approved in May 2015 (GR367) with a reporting period of 9 July to 8 July. This is the second group report to be submitted. The McArthur River Project licences formed part of the demerger of base metal assets from TNG Ltd to Todd River Resources Limited which took place in April 2017. Limited exploration was completed across all projects leading up to this demerger. A SKYTEM geophysical survey was completed across the project area in August 2017. Ten target areas were identified, five being high priority (A, B, I, G and D). Drillholes have been planned and a programme of three holes, testing targets B, D and I is currently in progress. Rock chip and channel sampling was completed across the copper anomalous zone on the southern boundary of EL 27711 (northern boundary of EL 30085) in October 2017. Fourteen rock chip samples were collected, five of which returned >20% Cu. 218 samples were taken from 18 shallow channels in the same area. Three channels returned vaues in excess of 1000ppm Cu, and seven returned anomalous copper values of >250ppm Cu. A successful drilling collaboration proposal was submitted in May 2018 and drilling is currently underway.