Annual Technical Report for Rover Project GR210/11 EL 27292 Rover North and EL 27372 Rover for the period 27 May 2017 to 26 May 2018

Abstract

Work on the Rover Project during the current period included an Induced Polarisation (IP) and Magnetotelluric (MT) survey (July 2017) over three prospects in the Rover field, as part of Joint Venture with Emmerson Resources Ltd (Emmerson) using that company's M.I.M Distributed Acquisition System (MIMDAS). Emmerson withdrew from the Joint Venture in September 2017. A trial Ground Electro-Magnetic (EM) survey was completed in May 2018, during the due diligence period of a Heads of Agreement signed with Minotaur Exploration Ltd (Minotaur). Minotaur withdrew from the Heads of Agreement in June 2018. During the IP and MT survey, nine lines, each 1.1km long for a total of 9.9km, were surveyed over three prospects: Rover 4 (R4), Rover 11 Central (R11C) and Rover 11 East (R11E). The objective of the survey was to determine the efficacy of IP and MT to image ironstone bodies with drilling control, in order to judge the effectiveness of applying the technique to the wider field. The technique was effective for identifying the cover sequence over the prospects, and defining broad alteration haloes associated with ironstones. Unfortunately, the technique did not generate targets that were directly attributable to mineralisation (as defined by drilling) that could be separated from the alteration haloes, precluding its use as a direct targeting method to sufficiently de-risk follow up drilling. The May 2018 Ground EM survey was conducted over two prospects; Rover 1 and Rover 4, to determine whether the known mineralisation could be resolved using the most advanced ground EM surveys. There was no response over the Western Lode at Rover 1 or from any of the Rover 4 lodes and this was thought to be due to the small size of the lodes, the depth of the mineralisation, particularly at Rover 1 and the poor conductance of the targets.