Partial Relinquishment Report Ranken Project EL 32285 for the period 23rd September 2023 to 23rd September 2024

Abstract

Knox Resources Pty Ltd (formerly Knox Resources Limited) 'Knox' was a successful applicant for both EL 32285 and EL 32286 on 23rd September 2020. The tenure period is six (6) years and expires on 22nd September 2026. Very little is known about the geology or mineral potential of the area in between Tennant Creek and Mount Isa, two mineral-rich regions. Geoscience Australia ('GA') and the Northern Territory Geological Survey ('NTGS') investigated the area between Tennant Creek and Mount Isa as part of the Exploring for the Future ('EFTF') program. The studies highlighted areas of interest within EL 32285 and EL 32286. However, Proterozoic rocks are overlain by Georgina Basin sedimentary sequences, restricting target generation to the utilisation of geophysical data and correlation with sparse drill data. Unlike Knox's Georgina Basin West and Central projects located in the East Tennant region, the Ranken Project is hosted within the central west of the Mesoproterozoic South Nicholson Basin. This area is mostly obscured by younger Cambrian Georgina Basin and Cenozoic cover sequences and as a result has not been explored significantly. Regional deep crustal seismic (2017 and 2019) conducted as part of the Exploring for the Future program and stratigraphic drilling (2020) by MinEx CRC has renewed exploration interest in the region with this data providing new constraint of the geological nature of this region. During the period, 23 September 2020 to 23 September 2024 Knox undertook the following activities on the relinquished portion of EL 32285: In late 2021, Knox engaged SRK Consulting (Australia) Pty Ltd 'SRK' to complete a prospectivity review of the Ranken project tenements. SRK produced two 'solid geology' interpretations, a Precambrian solid geology and a Paleoproterozoic solid geology, beneath a cover of Cambrian sedimentary and volcanic units of the Georgina Basin and unconsolidated surficial Cainozoic deposits. Knox applied for and was successful in obtaining co-funding by the NT Government under the Geophysics and Drilling Collaborations Program (Round 15) to conduct a ground gravity survey and passive seismic survey in EL 32285 and EL 32286 to further refine targets generated by SRK's as part of the above mentioned prospectivity review.