Group technical report GR370, 8 December 2017 to 7 December 2018

Abstract

The Daly River Exploration Project is made is made up of three exploration licences which include EL28462, EL29731 and EL30521. These ELs are located approximately 130km SSW of Darwin and is coincident with Tipperary Stations and Litchfield Station. The tenements are prospective for multiple commodities which include layered ultra-mafic hosted base metals, Pegmatite hosted Lithium and Gold. Exploration during the reporting period has focused on Base Metals and Lithium exploration by the way of reconnaissance mapping and rock chip sampling of the Pegmatites running through all three leases and Aeromagnetic and Radiometric Survey across EL28462 and EL30521. Drilling, targeting ortho-magmatic Ni-Co-Cu-(PGE) mineralisation in mafic ultramafic intrusions (Proterozoic Woolianna Gabbros) in the Litchfield Province, was due to occur during the reporting period. Application for NTGS collaborative funding was applied for and awarded to PNX for the drill program. Drilling did not take place due to a Land Access Agreement not being reached with the Pastoral Lease Holder. Drilling has been postponed until the dry season of 2019.