Exploration Licence 29475 Adnera Hill Neutral Junction Project Fourth Annual Report for the period 15 January 2016 to 14 January 2017

Abstract

EL 29475 (Adnera Hill), is located 250km north of Alice Springs and comprises part of the Neutral Junction project. Bowgan Minerals Limited is the current operator of the tenement. Exploration is currently aimed at identification of potential occurrence of economic gold, silver and base metal mineralisation within an iron oxide-copper-gold (Tennant Creek-style IOCG) deposit setting. Anomalies have been previously identified immediately to the north of EL 29475 with exploration currently focused towards exploration along two prospective structural corridors. Exploration activity conducted by Bowgan Minerals Limited during the current reporting period included; testing of all rock chip samples by Niton XRF and spectrometer, lodgement of submission for co-funding through the NTG's CORE initiative for a proposed gravity surveying program, completion of reconnaissance survey to examine lithium potential within pegmatites at the Neutral Junction project, completion of a spectrometer survey program over the Radiometric target, collation of geological mapping datasets and interpretation and the examination of core samples from South Australian IOCG deposits at the PIRSA Core Facility in Tonsley (Adelaide). The gravity survey program commenced on-ground during December and is currently on-going.