Daly River Project EL 28462

Abstract

This Final Report describes exploration activities conducted on the Daly River Project title EL 28462 that were the subject of the NT Geological Survey Geophysics and Drilling Collaborations (GDC) program and associated grant during the 2022 - 2023 Calendar year. The Daly River Project lies 90 to 100 km south of Darwin, within the highly prospective Pine Creek Orogen and Daly Basin, which are known to host significant gold and lithium / battery metals deposits. The initial grant was $68,828 towards four reverse circulation drillholes in the Kilfoyle area within tenement EL 28462. A total of six holes were drilled for 738m in the program with some holes relocated due to access and clearing considerations and two additional holes drilled in an attempt to better understand results from earlier holes in the program. Pegmatite was intercepted in five out of the six holes drilled in at least two intersections in each hole. Inspection of the samples under ultra-violet light showed salmon coloured fluorescence from weak to strong in several samples which also corresponded with weakly anomalous to strongly anomalous lithium results in the assays leading to the interpretation of spodumene as the contributing lithium bearing mineral. The western pegmatite returned very weak anomalism downhole however given the accompanying mineral fluorescence and the strike exposure evident, further exploration is required along strike seeking economic widths and grades elsewhere along the body. The eastern pegmatite(s) returned significantly stronger anomalism coupled with some strongly fluorescent samples at relatively shallow depths. The data collected was insufficient to allow determination of orientation either laterally or down dip of the mineralized body and will require additional drilling to this end as well as to attempt to find economic widths and grades.