Group Annual Report for EL 25191, EL 25192, EL 28785, EL 25156, EL 29832 and EL 29859 GR269 Tanami Project (Previously South Tanami Project) From 16 March 2017 to 15 March 2018 And for Exploration Licence 25156, 29832 and 29859 From 21 October 2016 to 15 March 2018 from 16 March 2017 to 15 March 2018

Abstract

Neighboring Exploration Licences 25156, 29832 and 29859 were added to ABM Resources NL (ABM) EL 25191, 25192, and 28785, which formed ABM's 'South Tanami' project. The newly formed enlarged project was named ABM's 'Tobruk' project. On 27 July 2017 the request to amalgamate Exploration Licences 25156, 29832 and 29859 with GR269 was approved. The Tobruk project is located approximately 550 km north-northwest of Alice Springs in the north Tanami Region of the Aileron Province (Figure 1) ABM explores the Tobruk project for the potential of gold mineralisation. Exploration consisted of a prospectivity review and diamond core drilling. In July 2017 ABM invited the Corporate Geoscience Group ('CGSG') as a consultant to undertake a geological framework and targeting study of ABM's Tanami projects which included the Tobruk project. The review resulted in a priority sorted list with a total of 6 targets within the Tobruk project tenements. Four targets are conceptual and two geochemical type targets. In May 2017 one NTGS Co-funded hole (HMRD 100001) for 276.11m was completed on EL 25192. The aim of the hole was twofold - to test a blind conceptual target of Dead Bullock Formation (DBF) under the younger Antrim Basalt formation as well as to test an anomaly defined in the Ionic leach geochemistry. HMRD 100001 did not intersect the targeted units of Dead Bullock Formation. The source of the Ionic Leach geochemical anomaly was not satisfactorily explained, although it could be related to the conglomerate at the base of the Talbot Well sediments containing disseminated trace to abundant blebs of pyrite over 6.8m. At a depth of 153m a 13cm thin palaeosol of Cambrian age marks the base of the Antrim Basalt and the top of underlying flat lying mudstones and siltstones, sediments interpreted to be Talbot Well Formation from the Birrindudu Group. Below the flat lying sediments, the Dead Bullock Formation was anticipated, but granite was intersected instead at a depth of 219.7m. It was proposed that in the absence of a geochemical technique to effectively predict mineralisation under cover advanced mapping and geophysics should be completed to determine the likely thickness of these units.