Annual Technical Group Report Burnside Group - Brocks Creek UG and Rising Tide, Davies Prospect, Fountain Head, Cosmo Howley, Grove Hill, Howley Ridge and Yam Creek for the year ending 15 February 2018 GR187/11

Abstract

Group report (GR) 187 consists of 29 mineral leases from the Brocks Creek/Rising Tide, Davies, Fountain Head, Cosmo/Howley, Howley Ridge and Yam Creek project areas. They are situated between Adelaide River and Pine Creek, and approximately 150km south-southeast from Darwin. The Burnside group of tenements fall within the Paleoproterozoic Pine Creek Orogen (PCO), one of the major mineral of Australia. The stratigraphy of the Burnside project area is dominated by the Wildman Siltstone of the Mt Partridge Group and units of the South Alligator Group and the overlying Finniss River Group. This volcano-sedimentary sequence has been moderately to tightly folded, along several northwest trending axis within the project area, the most prominent of which are the Howley, Brocks Creek/Zapopan and the Fountain Head Anticlines and the Margaret Syncline. The axial plane of these folds is characterized by intense bedding-parallel faulting and shearing along predominantly northwest trends. The Wildman Siltstone consists of medium to thinly bedded, to laminated fine grained pyritic carbonaceous sediments with minor sandstone and tuff beds, with an overall thickness of approximately 1,000m. The Koolpin Formation consists of sulphidic and carbonaceous argillite, ferruginous chert, ironstone, silicified dolomites and phyllitic mudstones. The contact between the Wildman Siltstone and the overlying Koolpin Formation is partially conformable and partially an angular unconformity. The Koolpin Formation varies in thickness from less than 300 m to in excess of 1,000 m, but its overall thickness is difficult to determine due to the presence of several intrusive sills of Zamu Dolerite, which vary from several meters to a few hundred meters in thickness. The Burrell Creek Formation comprises a 1,500 m thick sequence of turbiditic sediments including greywackes, siltstones and mudstones. The Mount Bonnie Formation is a transitional unit between the Koolpin and Burrell Creek Formations, comprising greywacke, carbonaceous siltstone, chert, tuff and ironstone and with a variable thickness between 150 m and 400 m thick. The Gerowie Tuff (GTF) is up to 400 m thick and consists of tuff, tuffaceous chert and tuffaceous siltstone, with subordinate amounts of laminated cherts and carbonaceous siltstones. Numerous semi-conformable sills of pre-orogenic Zamu Dolerite intrude the Koolpin Formation and the Gerowie Tuff. The post mineralisation Burnside Granite and Mount Goyder Syenite intrude the sedimentary sequence. During the reporting period, NT Mining Operations transitioned into Care and maintenance; however, both surface and underground diamond and reverse circulation drilling continued throughout this period. Exploration within the Cosmo Underground Mine were also ramped up during the reporting period. The Lantern Deposit continued to be the focus of drilling at the Cosmo Mine, with infill and large step out drilling occurring to the north, south as well as down plunge. Further details of this work and the work conducted over the rest of our Burnside mineral leases are provided in Section 8 of this report. During the beginning of 2018, the Fountain Head leases were sold to PNX Metal's .