EL 31692 Leila Creek Project Annual Report for the period 21 September 2020 to 20 September 2021

Abstract

EL 31692 (Project) is located approximately 75km SW of Borroloola. Cerberus is assessing the potential of the Project for Stratiform, sediment-hosted Pb-Zn-Ag (plus or minus Cu) deposits. 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 and targeting assessment, however, no ground-based exploration was undertaken due to COVID-19 pandemic access restrictions. The northeastern portion of the Project area offers the most realistic exploration opportunity to locate a large base-metal deposit beneath rocks of the Lynott Depositional Cycle.