EL 32031 Partial Relinquishment Report for the period 9 July 2019 to 20 November 2023

Abstract

This report presents exploration work conducted on a relinquished portion of EL 32031 during the reporting period from grant on 9 July 2019 to cancellation on 20 November 2023. EL 32031 is referred to as the Corella title, and is held by Pinnacle Gold Pty Ltd. The title lies approximately 150 km northeast of Tennant Creek. Pinnacle's interest in the Corella title stems from the successful 2017 Northern Australia Geochemical Survey (NAGS), which identified several highly anomalous drainage catchments which contain a series of gold, copper and arsenic MMI anomalies that have a broad spatial correlation with a series of elongate magnetic anomalies, likely sourced from the Proterozoic basement. Pinnacle conducted a review of historical exploration, analysis of NAGS geochemical anomalies, interpretation of Geoscience Australia airborne EM data, and analysis of borehole hydrological sampling. NTGS conducted ground gravity surveys over EL 32031 and the surrounding area; this gravity data is open-file. On 20 November 2023 42 blocks were relinquished in response to a Partial Cancellation Notice issued by the DITT. Blocks were selected for relinquishment based on benign responses for magnetic and/or gravity anomalies, and/or partially covering offtenure magnetic and/or gravity anomalies.