EL 32248 Aladdin Project Final Report 19 March 2020 to 10 October 2024

Abstract

Mineral Exploration License (EL) 32248 was granted to Santonian Resources Ltd on 19th March 2020 for a term of 6 years and transferred to Mr. Aaron Banks on 7th December 2022 and subsequently transferred to Future Energy Minerals on 03 September 2024. EL 32248 forms part of the Aladdin Project which stretches for a ENE strike of 200km and is centred on the settlement of Top Springs and 240km South from Katherine. Historically the area has been suspected to have bornite mineralisation due to iridescent stains found within the laterite. Geochemical assays of rock chip samples recovered from the project area has shown high anomalous Vanadium, Titanium, Iron and Aluminium content within the surficial mineralised laterite. Preliminary office studies have shown that the suspected mineralised laterite extends further North. Exploration of the Aladdin Project Area and consequently EL 32248 recovered reasonable vanadium results from rock chip sampling suggesting a possible underlying Titanium / Magnetite / Vanadium / mafic intrusive from the tenure in the Project. Remote sensing techniques using the ASTER Ferric Oxide map and DTM elevation map suggest that iron oxides are present. Following the completion of this preliminary work as detailed in the past reports, Future Energy Minerals Ltd concluded that the potential for economic mineralisation/deposits was very low and therefore the title was surrender with a cessation date of 10 October 2024.