Combined Annual Report for EL 25399 Compass Creek and EL 25436 Mavis GR209 February 2021 to February 2022 Compass Creek Project

Abstract

IsMins Pty Ltd (IsMins) currently holds two exploration licences collectively known as the Compass Creek Project in the central-northern part of the Pine Creek Goldfield in the Northern Territory. The two tenements total 15 sub-blocks and cover an area of 48 km2. The Compass Creek Project is located about 130 km south-east of Darwin, 55 km NNW of Pine Creek, and about 15 km east of Ban Ban Springs Station. This report has been submitted as part of the statutory reporting requirements for EL's 25399 and 25436. Due to Covid 19 border restrictions, it was not possible for Ismins to undertake proposed drilling on the tenements during the reporting period. The period was used to integrate the geophysical and geochemical database with the recently acquired Lidar topographic data ( distilled into a detailed DTM) to refine the exploration targets. Two styles of target mineralisation are present within the tenements: Orogenic gold mineralisation associated with a classic N.T. model of axial plane shearing and associated mineralisation within both favourable structural traps and postulated reactive and conformable host rocks within a plunging anticline; Intrusive related tin (+/- gold) mineralisation associated with a buried cupola but expressed at surface as breccia pipes. Two prospects of Target 1 mineralisation style have been delineated to date by a combination of geophysical techniques including IP chargeability, an AEM conductor anomaly and ground magnetics. Limited recce scale rock chips and a single ridge soil samples taken prior to geophysics have indicated weak anomalous surface geochemistry. The depth to target derived from the multi-technique geophysics indicates that the mineralisation may not extend to surface and could well be only subtly geochemically expressed at surface. The geophysical anomalies, however, are intense and significant. A review of the previous surface geochemistry has indicated that insufficient soil samples have been taken over the projected trace of the geophysical anomalies to surface and that a more robust geochemical response may be apparent with a higher density of sampling than currently present in the data base. Although the geophysical anomalies warrant drilling on their own right, it is considered that further geochemistry could prove useful in further refining drill hole targeting. Target 2 mineralisation is located wholly within EL 25399. The alteration style and presence of surface tin and base metal bearing mineralisation associated with breccia pipes strongly suggest the presence of an underlying granite cupola. Recce exploration to date has discovered two such breccia pipes and Lidar topography suggests the possibility of additional. A stronger case for drilling the currently known breccia pipes can be made on the basis of surface rock chips, clear topographic expression and underlying IP chargeability.