EL 31951 Elkedra Project Partial Relinquish Report 2023 19 March 2019 to 18 March 2023

Abstract

There have been 93 blocks (~296 km2) relinquished from the EL 31951 exploration licence on the Elkedra project (GR566). The tenement is managed by Magnet Exploration Pty Ltd, with exploration efforts conducted by EARTH AI OPERATIONS AUSTRALIA PTY LTD, a subsidiary of the EARTH AI Group (hereinafter referred to as EARTH AI). This report reviews all work undertaken over the three year period on the relinquished blocks. EARTH AI has pioneered an Artificial Intelligence (AI) driven technology for mineral targeting that leverages archived remote sensing, geophysical, and geochemical data to identify new mineral deposits. An initial comprehensive review of previous research conducted in the area did not yield any significant insights. Therefore AI targeting was conducted and cluster maps produced to generate mineralisation targets. The relinquished blocks have been investigated for potential vanadium, lead, copper, silver, and zinc mineralisation by our AI model where data was generated and clustered. Our results suggest low probable mineralisation over the relinquished blocks warranting their relinquishment and further validated by 35 pXRF surface geochemical analysis in the field. Upon this conclusion we have relinquished the blocks described here.