Barkly Project Group Report GR560 for the period 29th June 2023 to 28th June 2024 EL 32546, EL 32550, EL 32551, EL 32734

Abstract

This document is submitted as a group report (GR560) for Teck's Barkly Project exploration licenses. The Barkly Project is located on the eastern edge of the Barkly Tablelands and overlaps with the eastern South Nicholson Basin. Teck acquired the Barkly Project tenure based on seismic interpretations of publicly available seismic data, which suggested that the area may preserve Paleoproterozoic stratigraphy of the same or similar age and composition to the Lawn Hill Platform, concealed beneath widespread cover of the South Nicholson and Georgina Basins. Confirmation of such sequences could open a new search space for the discovery of large sediment-hosted massive sulfide (SHMS) Zn-Pb-Ag systems, similar to Mt Isa, George Fisher, and Century deposits. Teck has been undertaking a progressive plan of exploration to determine the prospectivity and explorability of the project area, initially employing large-scale geophysical surveys such as seismic and MT, followed by deep diamond drilling. Following on from the 2023 Barkly diamond drilling campaign, which concluded in December, Teck has conducted an evaluation and integration of results with other existing data. Based on these in-house reviews it was concluded that 9 licenses would be surrendered in full as the mineral potential and probability of success over those areas was deemed low. This group report discusses exploration activities conducted on the remaining 4 Barkly licenses EL 32546, EL 32550, EL 32551 and EL 32734. Activities completed during the third reporting period consisted primarily of: - A diamond drill campaign comprising four drill holes for 3,749.27m. One of those holes (BRKDD003) was abandoned at 83.9m in cover due to technical issues and was redrilled from the same site; - Wireline logging of two drill holes, BRKDD002 and BRKDD004; - 1m-spaced downhole portable XRF analyses were recorded for pre-Cambrian intervals in all drill holes; - Zircon U-Pb dating of 6 samples from BRKDD001 and BRKDD002; - Petrographic thin sections of 18 core samples from the drill holes; - Acquisition of 49 MT stations in 2023 as part of a larger survey; - Integration and interpretation of drilling results and MT survey data with existing data to evaluate further potential targets.