EL 31784 Terrys Find Project Annual Report for the period 21 September 2021 to 20 September 2022

Abstract

EL 31784 (Project) is located approximately 375km WNW of Alice Springs. Cerberus is assessing the potential of the Project for hydrothermal Au Ag and Cu-Pb-Zn deposits, and alluvial Au deposits. Three main prospects (named Alpha, Bravo and Charlie) are located to the W and WNW of Terry's Pit. The prospects are spatially associated with WNW striking linear ASTER anomalies. Au anomalism at Alpha and Bravo prospects is accompanied by Fe residual enrichments of Ag and As, but Alpha also shows local enrichments of Bi, Pb and Zn, which are not observed at Bravo and Charlie. Prominent untested Fe-residual anomalies for Ag, As, Co and Pb located approximately 1.5km ESE of Alpha require follow-up assessment. A total of 29 sub-blocks were voluntarily relinquished from the Project on during 2021. A further 3 sub-blocks were relinquished from the Project during 2022, leaving 4 retained sub-blocks.