Woolgni Project EL 31457 Annual Report for the period 22 August 2017 to 21 August 2018

Abstract

Woolgni's history dates back to 1897 when Chinese miner's migrated to the region specifically for the purpose of gold exploration. Gold was extracted from several old Chinese workings situated at the Woolgni Prospect. Miner's at the time constructed two successful shafts into the western load of the reef system. Gold ore was being mined at an average of 30 Oz/t, recorded production was 3840 Oz up until 1905. Modern exploration began at Woolgni in 1981 when Zapopan NL was granted EL's 3199 and 3200. Seventh State Mines NL drilled five diamond holes totalling 263m of drilling, targeting gold mineralisation beneath the old workings. The results from DDH2 highlighted narrow 1-2m zones of low to high grade gold mineralisation including 1.1m at 47g/t Au from 33m. 1m at 17.3g/t Au from 16m and 8.3m at 3g/t Au from 20.1m. Further modern day exploration work included geological mapping, geochemical sampling of rockchip, soil, sediment and costeans as well as gravity interpretation, aeromagnetic and radiometric surveys. Hilltop Enterprises began a joint venture with an earn in of 50% of the Woolgni Project during 1990. Hilltop Enterprises Pty Ltd conducted a reconnaissance geochemical survey over the Tower Prospect located approximately 1.5km west of the Woolgni Prospect, targeting outcropping siltstone greywackes of the Burrell Creek Formation, returning assays ranging from 0.21 to 31.1g/t Au.