Barkly Project Final and Annual Report GR560 for the period 29th June 2021 to 24th December 2024 EL 32734, EL 32551, EL 32546, EL 32550

Abstract

This document is submitted as a final and annual group report for EL 32734, EL 32551, EL 32546 and EL 32550, which together comprise the Barkly Project. 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 undertook 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 on selected licenses. Work completed on the surrendered licenses during their terms included: Historical review of previous exploration and compilation of historical datasets; Acquisition of 1,858 infill ground gravity stations as part of the NTGS Brunette Downs survey; Reprocessing of parts of existing seismic reflection datasets from the L212 Barkly survey undertaken in 2019 by Geoscience Australia; Planning for new 2D seismic reflection acquisition, including field reconnaissance visits; 2D Seismic reflection acquisition of 80 line-km as part of a larger survey; Acquisition of 55 MT stations in 2022 as part of larger GDC co-funded survey; Interpretation of acquired 2D seismic and 2022 MT data; 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 drillholes; Zircon U-Pb dating of 6 samples from BRKDD001 and BRKDD002; Petrographic thin sections of 18 core samples from the drill holes; Acquisition of 139 MT stations in 2023 as part of a larger survey with 49 stations within these 4 tenements; Integration and interpretation of drilling results and MT survey data with existing data to evaluate further potential targets. Following on from last year's Barkly diamond drilling campaign, Teck has evaluated and integrated results with other existing data. Based on these in-house reviews, it was concluded that the remaining 4 licenses would be surrendered in full as the mineral potential and probability of success on them was deemed low.