Year 3 Annual Report Exploration Licence EL 32041 Frazers for the reporting period 4th October 2021 to 3rd October 2022

Abstract

Exploration License EL 32041 is located approximately 60kms south of Darwin and is wholly owned by Aldebaran Pty Ltd. This report covers exploration activities on this tenement during the first year of tenure. During the year reconnaissance exploration was undertaken including a visit by a consultant geologist. Priority sites from the year 1 review were visited and also the mining lease ML 32125 in the southern portion of EL 32041. Exploration potential exists for Rare Earth Elements (REE), gold, poly-metallic base metals and uranium. The different commodities have very similar deposit styles/models in the Rum Jungle Field, with anticlinal hinges, shears, breccias and veins all being possible hosts. Aldebaran is investigating the potential of these targets as well as researching new possibilities including high purity silica.