Second Annual and Final Report Ringwood EL 32942 for the period 27 June 2022 to 18 March 2024

Abstract

EL 32942 was granted in June 2022. Commodities sought are base metals, battery metals, REE's and phosphate. About one third of the area has outcrop/subcrop of Amadeus Basin sediments. Most of the Basin stratigraphies are represented within the tenement area, from Neoproterozoic Bitter Springs Group to Devonian Brewer Conglomerate. Aeromagnetics suggests the remainder of the area under cover has similar stratigraphies. There are no mines, deposits, mineral occurrences or drillholes within the EL area. Previous explorers, notably Poseidon Exploration Ltd in the 1990's, targeted base metals in the late Neoproterozoic Bitter Springs Group, Areyonga Formation and Aralka Formation. CRA Exploration explored for diamonds and base metals without success. Other than regional AEM traverses flown in 2017 by GA, no new data has been collected in the tenement area for 30 years. Gempart believe that re-assessment of past exploration data and acquisition of modern airborne geophysical data can vector new areas to investigate for conventional and new-age commodity targets. CRA Exploration in 1991 reported anomalous gold in reconnaissance surface sampling. A rock sample returned 14ppb and a nearby soil sample returned 25ppb in an area mapped as Areyonga Formation in the southwest of the EL. Gempart collected 99 -1.6mm soil samples on a 50x50 metre grid and analysed for gold plus another 60 elements. Results are uniformly disappointing. Best gold assays are from scattered sites to maximum 0.5ppb. Best results in other elements are 98.6ppm Cu and 71ppm Pb. All elevated assay values are from isolated, scattered sample locations with no coherency. The results fail to substantiate the CRA Exploration results which are probably in error. Outside of the prospect area investigated there is little to target on this EL and further work is not justified. Gempart has numerous other EL's at various stages of exploration varying from new grant to drilling. Exploration funds will be directed to these projects and EL 32942 is to be surrendered.