Group Technical Report GR575 Exploration Licences 32433 and 32434 1 April 2021 to 31 March 2022

Abstract

This Group Report (GR575) describes exploration conducted over the Moonlight Group of titles, comprising EL 32433 and EL 32434, during the reporting period from 1 April 2021 to 31 March 2022. The Moonlight titles lie approximately 85 km west of Daly Waters, and will be the subject of a focused program of exploration to assess the potential of the vanadium-rich lateritic duricrust. The key to this speculative play is the ability to process the material and economically extract the vanadium. During the reporting period no field work was possible on the Moonlight titles due to restrictions in staffing and travel related to the Covid-19 pandemic. Exploration over the title was limited to desktop studies, including detailed assessment of previous exploration. Work originally planned for the first year of tenure is therefore now planned for the upcoming reporting period. Work is proposed to include desktop studies, field mapping and pXRF analysis. Should results from next year's exploration justify further exploration, TNG Limited proposes to conduct preliminary processing of sampled vanadiumrich ironstones, and to drill AC/RAB holes to assess vanadium tonnages and grades.