GR448/17 Borroloola Project 2017 Group Mineral Exploration Annual Report 10 April 2016 to 9 April 2017

Abstract

This annual group report covers mineral exploration by Sandfire Resources NL (Sandfire) on EL 30098, EL 24401, EL 26555, EL 26587 and EL 26837 within the Borroloola Project, for the period 10th April 2016 to 9th April 2017 (the 'reporting period'). These tenements are the Sandfire held and operated tenements within the Borroloola project which consists predominantly of joint ventures with Pacifico and MMG. The tenements are generally located on the peripheries of the package. The wider Borroloola Project sits within the Batten Fault Zone of the Proterozoic McArthur Basin and has been explored for base metals, manganese and diamonds since the 1950's. Evidence of historic work in the region dates back to the 1880's. Sandfire believes the tenement package is prospective for base metals, iron ore and manganese. Exploration activities undertaken during the current reporting period included an ongoing historic data review and compilation across EL 30098 which has highlighted an area of initial interest, a review of Sandfire's Borroloola MMP and facilitation of an external review by a manganese explorer and miner. EL 24401 and EL 26837 have expired on 2nd and 8th June 2017 respectively. Future work for these tenements will be limited to compilation of Final Reports for submission within the statutory timeframe.