2017 Annual Group Report GR431 MLN 794, MLN 795 and ML 30936 Golden Dyke Dome year ending 31 December 2017

Abstract

PNX Metals Ltd ('PNX') purchased the Golden Dyke Dome tenements in July 2016. This is the second of the Group Reports (GR431) pertaining to MLN's 794 and 795 and ML 30936 collectively referred to as the 'Golden Dyke leases'. PNX are exploring the Golden Dyke leases, as part of the Burnside Project, which also includes surrounding EL's (reported separately in GR185). The Golden Dyke leases lie within the Pine Creek Orogen, in an area that has been subject to significant previous exploration interest since gold was discovered in the 1870's. Sporadic mining up to 1988 has exploited narrow, high grade veins, but with limited strike extent. Previous exploration has focussed mostly on the oxide zones. PNX are exploring the area primarily for gold, but also base metals. During the 2017 reporting period PNX scanned and georeferenced old hard copy maps and completed a small amount of groundtruthing. Compilation, validation and field investigation will continue in the future.