Burnside Project EL 31795 Fifth Annual Report for the period 16 July 2022 to 15 July 2023

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, and originally covered an area of 64 km2, which was reduced to 32 km2 following a partial relinquishment at the end of the second reporting year. 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. During the current reporting period, no field work was completed due to limited staff availability, with available resources focussed on diamond and RC drilling as well as preparing for resource modelling for the nearby Brocks Creek licence. Exploration in Burnside is currently focussed on testing the potential for economic gold and base metal deposits.