EL 31692 Leila Creek Project Annual Report for the period 21 September 2019 to 20 September 2020

Abstract

EL 31692 (Project) is located approximately 75km SW of Borroloola. Cerberus is assessing the potential of the Project for hydrothermal CuPb-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 continued to compile and assesses all available geological, geophysical, remote sensing and exploration work undertaken over the Project area. Cerberus undertook geological reconnaissance to the general area of EL 31692, however, no further ground-based exploration was undertaken due to COVID-19 pandemic access restrictions. The potential for the Project area to contain Cu-Pb-Zn mineralisation appears to be reasonably good, however, exploration is going to be challenging because the main target Barney Creek Formation lies under thick cover sequences.