Annual Report GR286/13 MLN 542, MLN 543, MLN 512, MLN 513, MLN 514, MLN 515 and ML 30587 period ending 31 December 2017

Abstract

Mineral Leases (ML) N512, N513, N514, N515, N542, N543, and 30587 are located 6 km east of the town of Batchelor, 85 km south of Darwin. All 7 leases form part of the Batchelor project owned and operated by Korab Resources Ltd and its wholly owned subsidiary Ausmag Pty Ltd. All 7 leases are members of the Amalgamated Reporting Group GR286/13. During the period ending 31 December 2017 Korab undertook reconnaissance of the potential drill locations, a site visit to the tenements N542, N543 and 30587, a site assessment of the historical open pits at Sundance gold mine (not currently operating) and site assessment of the proposed Winchester magnesium carbonate open cut mine and the test pit at Winchester (ML 30587). Most of the other work during the period was on the neighboring EL 29550 (also held by Korab) which adjoins these leases. Other work conducted during the year on the tenements which form GR286/13 consisted primarily of review of historical surface geochemical data, outcrop mapping, review of historical drill data, review of the ASTER and LANDSAT images, geophysics (government TEMPEST data and private ground magnetics), updating of the geo-database, review of historical drill data, review of geochemical data from historical drilling, planning of additional drilling, planning of sampling, updates to feasibility study for the Winchester including review of historical environmental and metallurgical reports, and review of development options for the Sundance gold mine.