EL 31692 Leila Creek Project Annual Report for the period 21 September 2018 to 20 September 2019

Abstract

EL 31692 (Project) is located approximately 75 km SW of Borroloola. Cerberus is assessing the potential of the Project for hydrothermal Cu-Pb-Zn SEDEX and associated deposit styles. Previous exploration and mineral development activities in the Project area have highlighted several geological and geophysical anomalies. During the reporting period, Cerberus compiled and assessed all available geological, geophysical, remote sensing and exploration work undertaken over the Project area. No ground based exploration was undertaken. Work on the Project is at a preliminary stage. The potential for the Project area to contain Cu-Pb-Zn mineralisation appears to be reasonably good, and further exploration assessment work is warranted. Base metal exploration within EL 31692 is going to be challenging because the main target Barney Creek Formation lies under thick cover sequences.