EL 32182 Lancewood Project Partial Surrender Report for the period 30 July 2022 to 29 July 2023

Abstract

EL 32182 (Project) is located approximately 95km SSW of Borroloola. Cerberus is assessing the potential of the Project for hydrothermal Pb-Zn-Cu SEDEX and associated deposit styles. Previous exploration and mineral development activities in the Project area have highlighted several geological and geophysical anomalies. A total of 175 sub-blocks were relinquished from the Project during 2023, leaving 60 retained sub-blocks. Work on the relinquished blocks involved reviews of previous exploration activities and assessment of publicly available remote sensing and geophysical datasets. Geological reconnaissance was undertaken to field check geological interpretations and to assess geophysical anomalies.