EL 24253 Neutral Junction Project Thirteenth Annual Report for the period 7 April 2017 to 6 April 2018

Abstract

The Neutral Junction project consists of five exploration licences; EL's 24253, 28615, 29475, 30797 and 31292, all located in the Barrow Creek-Mount Skinner area 220-280km to the north of Alice Springs. EL 24253 Neutral Junction is the subject of this report, and is operated under a joint-venture agreement, between Bowgan Minerals Limited, Mega Hindmarsh Pty Limited and the original tenement manager Mithril Resources Limited. Bowgan Minerals Limited is the current operator of the Neutral Junction project. Bowgan Minerals Limited is currently exploring for economic occurrences of; gold, silver, copper and base-metal and other elements within an iron oxide-copper-gold ('Tennant Creek-style' IOCG) deposit setting and for uranium within an unconformity-related deposit setting. Exploration activity completed for EL 24253 during the reporting period included; preparation and testing of 19 soil, 5 gravel and 3 rock chip samples by pXRF analysis, resumption of the gravity surveying program by Atlas Geophysics and the processing and preliminary interpretation of results. All ground magnetic datasets completed to date for the Neutral Junction project were collated in preparation for detailed interpretation by a Geophysical Consultant and a formal presentation detailing geobotanical mapping methods and results was prepared for the AIG Biogeochemical Seminar in Perth, during June 2017. A voluntary surrender of 26 out of 67 blocks was conducted on 24 March 2018 with 41 blocks being retained.