Partial Relinquishment Report Georgina Basin West Project EL 32296 23rd September 2020 to 23rd September 2024

Abstract

Knox Resources Pty Ltd (formerly Knox Resources Limited) 'Knox' was the successful applicant for EL 32281, EL 32282 and EL 32296 on the 23rd September 2020. The tenure period of each tenure is six (6) years and expires on the 22nd September 2026. EL 32281, EL 32282, EL 32296 and ELA 32280 are collectively referred to by Knox as the 'Georgina Basin West Project'. On 23 September 2024 Knox relinquished 20 blocks from EL 32296. The exploration rationale is focused on the Tennant Creek style ironstone associated copper-gold-bismuth mineralisation, part of the Iron Oxide-Copper-Gold ('IOCG') group of deposits within the Warramunga Formation and the potential for IOCG deposits within the Ooradidgee Group. Major world-class mineral deposits are hosted within exposed Proterozoic rocks at Tennant Creek within the Warramunga Province. However very little is known about the geology or mineral potential of the area in between Tennant Creek and Mount Isa, two mineral-rich regions. Geoscience Australia 'GA' and the Northern Territory Geological Survey 'NTGS' investigated the area between Tennant Creek and Mount Isa as part of the Exploring for the Future 'EFTF' program. The studies have highlighted areas of interest within the Georgina Basin West Project. The area of Georgina Basin West Project is overlain by Georgina Basin sedimentary sequences, restricting target generation to the utilisation of geophysical data and correlation with sparse drill data. Similarly, recent results from the Mineral Exploration Cooperative Research Centre's ('MinEx CRC's') National Drilling Initiative ('NDI'), geophysical interpretations and geochronological data imply that the region east of Tennant Creek could be an undercover extension of the Warramunga Province, this is significant for the Georgina Basin West Project. During the period, 23 September 2020 to 23 September 2024 Knox undertook the following activities on the relinquished portion of EL 32296: - Airborne magnetic survey; - Gravity survey; - Geological review. The exploration work undertaken by Knox on the relinquished portion of EL 32296 has not identified any features consistent with the presence of a large scale IOCG mineralizing system.