Burnside Project EL 31795 Fourth Annual Report For the Period 16 July 2021 to 15 July 2022

Abstract

The Burnside exploration licence, EL 31795, is located approximately 125 km southeast of Darwin. EL 31795 was granted to Bacchus Resource on the 16th July 2018 for a period of six years. The tenement lies within the Pine Creek Orogen (PCO), one of the major mineral provinces of Australia. The PCO is a deformed and metamorphosed sedimentary basin up to 14 km thick covering an area of approximately 66,000 km2. It is host to significant mineral resources of gold, uranium and platinum group metals, as well as substantial base metals, silver, iron and tin-tantalum mineralisation with mining and exploration occurring in the region since the early 1870's. No work was completed during the fourth year of tenure, due to reduced staff available in the NT as a result of Covid-19 vaccination mandates on mining projects, which resulted in key field staff having to be let go. Exploration in Burnside is currently focussed on testing the potential for economic gold and base metal deposits.