ELR 116 Annual Report for period ending 11 September 2018

Abstract

The Mount Porter gold resource is a key asset and major focus of attention for future Gold production for Ark Mines. This Project currently comprises a number of exploration / mining titles, covering an area of approximately 67 km2. Three of these licences, including ELR 116, were purchased outright by Ark from Arafura in August 2016. The mineral rights on the remaining licences are shared with Territory Resources Limited, or with its wholly owned subsidiary, Frances Creek Pty Ltd. To date, Ark's activities in the Mount Porter region have been directed at preparing for the commercial exploitation of the Mount Porter gold resource and to investigate further extensions along the Mt Porter Anticline. During 2016 Ark recognised two new potential gold mining sources within 400m north and south of the Mt Porter gold mine, both of which may extend into ERL 116. The similarities between the two new zones and the existing Mt. Porter resource suggest there may be potential for developing a similar resource for the north and the south. In 2018, the AAPA certificate on the Mt Porter project was renewed. Repairs to existing ELR 116 access tracks were carried out following damage due to the heavy wet season. Four water monitoring bore locations were pegged and checked by geological and hydrological personnel, ready for construction when Mt Porter South drilling is continued, in order to support environmental monitoring of the MPS project. Field reconnaissance was undertaken on the previously unsighted southern and north western areas of ELR 116, using a light eight wheel drive ATV, which resulted in recommendations for continued exploration activity in these areas.