2018 Annual Report for EL 29898 Debbil Debbil Project period ending 14 August 2018

Abstract

Lagoon Creek Resources Pty Ltd is conducting exploration throughout the Westmoreland and Murphy regions for unconformity related uranium - gold - mineralisation. Historical exploration has focused predominantly on areas of known uranium mineralisation. In recent years, Lagoon Creek Resources has been focussing on a 'Mineral Systems' style of targeting in the region including Short Wave Infrared studies and inversion modelling of magnetic data. Investigations completed during the current reporting period, included a FALCON Airborne Gravity Gradiometry, Magnetics and DTM Survey partially funded by the NT Government's Geophysics and Drilling Collaborations funding. The FALCON AGG system is believed to provide the highest resolution gravity gradiometer data available and the Company believes an airborne gravity survey will help map and target similar structures and offsets in the basement up through the Westmoreland Conglomerate in the Murphy Region. Timing issues resulted in the FALCON Survey not being completed during the current reporting period, however the program has now been completed. Preliminary gravity images have been supplied however reprocessing and interpretation of the new data will be reported in full in the 2019 Annual Technical Report.