Exploration Licence 32361 Annual Technical Report for the period 1 April 2022 to 31 March 2023

Abstract

This report describes mapping and bulk rock chip sampling activities carried out over EL 32361 during the reporting period from 1 April 2022 to 31 March 2023. EL 32361 is located approximately 70 km north of Alice Springs. EL 32361 is referred to as the Two Amigos project. The Project is initially focused on a significant exposure of gossanous copper-bearing ironstone, approximately 150 m in strike length and 10 m wide, which has hitherto been unexplored. During the reporting period bulk rock chip sampling was conducted; 18 samples were collected over several traverses across the width of the gossan. All eighteen samples traverses reported anomalous copper values up to 4,600 ppm, and zinc values up to 9%, accompanied by anomalous gold and silver values. Interestingly, the new outcrop mapped to the south showed higher lead values, up to 3,800 ppm. In the upcoming reporting period regional geophysical data will be obtained and analysed. A single RC hole will be drilled to test the main gossan at depth.