Mount Hardy Project Third Group Annual Report EL 27892, EL 28694, EL 29219 17 September 2016 to 16 September 2017

Abstract

The Mount Hardy Project licences formed part of the demerger of base metal assets from TNG Ltd to Todd River Resources Limited which took place in April 2017 and are now 100% owned by Todd River Metals Pty Ltd. A fourteen hole drilling programme was completed on four target prospects: EM Target 1, EM Target 2, Browns and Mount Hardy from April to June 2017. Five holes were drilled with diamond tails below RC pre-collars. In total 2849 metres were drilled with 2195 m of Reverse Circulation and 654 m of diamond core. Downhole EM surveys were completed by Merlin Geophysics in August 2017 using a Phoenix TXU-30 transmission system. A digi-Atlantis probe DHEM controller and receiver was used to collect data from 5-10m spaced stations. Twelve drillholes were surveyed with a total of 2305m of data collected. Of the four areas surveyed, only EM Target 1 and EM Target 2 recorded downhole conductors; no features of interest were identified in the DHEM data from Mt Hardy and Browns prospects. Drill holes are planned to test conductors that have not yet been drilled at prospects EM 1 and EM 2 and to test mineralisation along strike and dip of base metal intersections from previous drilling. Soil sampling was completed over eight areas within the Mount Hardy Project. The areas were selected based on airborne geophysical magnetic anomalies, geology and structure. In total, 871 readings were collected from the eight areas with 449 readings collected from EL 28694, 254 readings collected from EL 27892 and 168 readings collected from EL 29219. The highest copper result was returned from Area 1 (EL 28694) at 202 ppm; the highest lead was returned from Area 3 (EL 28694) and the highest zinc was returned from Area 1. Mapping and rock chip sampling at Area 1 is recommended to determine the potential for economic base metal mineralisation and provide targets for drilling if warranted.