Reward Project Group Report GR248/12 for the period 24 March 2017 to 23 March 2018, EL 10316, EL 30042, EL 26406 and EL 27541

Abstract

Activities completed during the reporting period consisted primarily of diamond drilling and geophysical surveys over the greater Teena Prospect. The drill program ran from May through to early October 2017 for a total of 5,608.40m over seven drill holes (including 2 abandoned attempts). The majority of these drill holes targeted the northern limb of the Teena deposit, aiming to test for the position of several basin structures (Kookaburra, Little Jabiru, and Jabiru Faults) and determine if there was a continuation of mineralisation in this position. A single drill hole tested the mineralisation on the southern limb position of the basin in a previously untested area. The resulting stratigraphic, structural and mineralisation information was used to inform interpretations of the sub-basin geometry, in particular focusing on the architecture of the northern portion of the sub-basin, the variability in thickness and occurrence of the HYC and W-Fold Members and the tenue of mineralisation. In addition to diamond drilling, there were three geophysical surveys conducted; a MIMDAS survey over the Teena deposit, a magnetotelluric (MT) survey over the Boko- Buffalo lagoon prospect and downhole wireline surveys of Teena holes. The MIMDAS survey was conducted over the Teena deposit to characterize the chargeability and conductivity of the Teena deposit. The MT survey was conducted over the adjacent Boko Prospects, which is recognized as barren sub-basin, with the aimed to characterize the MT response of a barren system, while the Buffalo survey tested for any residual prospectivity at depth. The wireline surveys where part of standard data collection of geophysical properties of the drill holes. Environmental work over the project included the drilling of a second water bore, which now eliminates any water extraction from the nearby McArthur River basin, develop a preliminary conceptual hydrogeological model for the Teena Project and conducting a biodiversity survey of the Teena area.