EL 26837 Borroloola Project 2017 Annual and Final Mineral Exploration Report 9 June 2009 to 8 June 2017

Abstract

This annual and final surrender report covers mineral exploration by Sandfire Resources NL (Sandfire), and West Rock Resources Limited (WestRock) and Pacifico Minerals Limited (Pacifico), on EL 26837 within the Borroloola and Borroloola West Projects respectively, for the period from tenement grant on 9 June 2009 to final expiry on 8 June 2017 (the 'reporting period').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. EL 26837 followed on from Substitution Exploration Licence 26837 (SEL 26837) which replaced portions of Sandfire EL 24402, EL 24664, EL 24778 and EL 25070 that were conditionally surrendered on 9 June 2009. Sandfire continued exploration on EL 26837 as it believed the tenement to be prospective for base metals, uranium and manganese. Between grant on 9 June 2009 and the commencement of operations under Pacifico on 1 July 2013, Sandfire carried out a review of base metals, uranium and manganese potential including a consultant's review of manganese potential, and reconnaissance field mapping and RC drilling at Yiyintyi West 1 in 2010, two airborne geophysical surveys (Heli-borne VTEM and airborne magnetics and radiometry) and more detailed geological mapping in 2011 that was followed by further RC for uranium and base metals drilling at Yiyintyi East and North Costello Range Prospect. The Borroloola West Project is a Joint Venture between Sandfire and Pacifico which included EL 26837. From 1 July 2013 to 21 April 2016 Pacifico carried out its own project-wide synthesis of regional geology and geophysical surveys in 2013 followed by the drilling of five RC to assess the potential for manganese in 2013. Drill holes were visually geologically logged and submitted for palynological age dating. EL 26837 was divested, with other tenements, from the JV by Pacifico during 2016 and returned to Sandfire's control. The Borroloola Project Combined Reporting Group GR448/17 in the Northern Territory which includes EL 24401, EL 26555, EL 26587, EL 26837 and EL 30098 is operated by Sandfire. The GR448/17 201704 GA Group Annual Report was submitted on 12th June 2017 and accepted. Between the period ending 9 April 2017 for the GR448/17 Group Annual Report to final surrender of EL 26837, 8 June 2017, no field exploration activities have been undertaken. Only office based compilation of this Annual and Final Report for submission was carried out. Within the period 2009 to 2017 tenement EL 26837 has been the subject of regional to prospect scale exploration that targeted drilling at prospects with base metals, manganese and uranium mineralisation. Having adequately tested the exploration targets, EL 26837 was not renewed and expired on 8 June 2017.