Group Annual Report for EL 26628 and EL 29828 GR386 Tanami Altura JV Project from 1 March 2017 to 28 February 2018

Abstract

Exploration Licences 26628 and 29828 form ABM Resources NL's (ABM), 'Tanami Altura JV' project which is located approximately 600 km north-northwest of Alice Springs in the north Tanami Region of the Aileron Province. ABM is exploring the 'Tanami Altura JV' project for the potential of gold mineralisation. Exploration consisted of a prospectivity review and surface sampling. In July 2017 ABM invited the Corporate Geoscience Group ('CGSG') to undertake a geological framework and targeting study of ABM's Tanami projects which included the Tanami Altura JV' project. The review resulted in a priority sorted list with a total of 2 targets within the Tanami Altura JV project tenements. Both targets are located on a NW-SE to WNW-ESE thrust fault (Mongrel Fault) connected at depth to deep-seated D0 rift structure as well as subparallel (thrust-truncated?) folds. The surface sampling consisted of 7 reconnaissance rock chip and 30 spoil samples. The spoil samples formed the first part of a program to be continued in 2018. The assay results from the program will form a data set for a lithogeochemistry study. The lithogeochemistry study aims to establish a classification of the encountered rocks into stratigraphic groups based on the work of Lambeck 2008 and then CSIRO. The maximum gold assay result returned from the rock chip sampling was 205 ppb (W214012) from a location 335m SE of the Genbu prospect on EL 26628. A recommendation was made to continue with the historic drill spoil sampling program.