Group Report GR611 for Huckitta Project EL 33263, EL 33267, EL 33272 Partial Relinquishment Report 2025

Abstract

This is the partial relinquishment report for the Huckitta Project in the Jervois region of the of the Northern Territory (GR611). It encapsulated three tenements that were relinquished by more than 50% each at the anniversary date in 2025 (EL 33263, EL 33267, EL 33272). During the second year of tenure, this project covered the original 12 granted tenements totalling 2,374 blocks or 7,477 km2 (a separate later-granted tenement EL 33721 is not captured by GR611). Immediately prior to the anniversary, a substantial part of the project was relinquished on geological grounds, leaving a residual 1,045 blocks or 3,288 km2 covered by the group report (or 1,119 blocks/3,523 km2 if EL 33721 is included). Ownership of the project changed hands in early 2025, with the owner Sandfire Resources Ltd selling the project to Daly Resources, via its 100% owned subsidiary Glyde River Pty Ltd. Tenements were transferred to Glyde River, who are now operator. The Huckitta Project tenements are situated about 240 km northeast of Alice Springs, and cover the southern margin of the Neoproterozoic to Palaeozoic Georgina Basin and is 5km north of the Jervois Cu-Au-Ag deposit. The region also hosts the Molyhil tungsten-copper Deposit/Mine. Little historic exploration work has been conducted over the Huckitta Project tenements. Sandfire undertook reconnaissance mapping and rockchip sampling in the first year of tenure, beyond the relinquished tenement areas reported on herein. During the current reporting period, neither Sandfire or Glyde River Pty Ltd ('Daly') undertook any field work. The latter has been solely focussed on floating the company on the ASX with Copper and Zinc as the primary commodities. Daly has other base metal exploration projects in the NT, including near McArthur River. The listing process has taken some time, owing to the flatness of the base metals market, and negated the possibility of undertaking on-ground activity in the Huckitta Project. Daly has, however, reviewed the data supplied by Sandfire and has begun the process of determining the best way forward for exploration in this greenfields area.