EL 31543 Illogwa Project Annual Report for the period 2 January 2022 to 1 January 2023

Abstract

EL 31543 (Project) is located approximately approximately 145km ENE of Alice Springs and comprises three separate areas. The central and western areas of the Project adjoin EL 26942, which is registered to Mithril Resources Pty Ltd, and covers the Basil Cu-Co deposit, as well as a number of important Cu-Co and Ni-Cu-PGE prospects, such as Manuel, Miggins, Bob and Hammerhead. Typhon is assessing the Project for Basil-style Cu-Co sulphide deposits, Ni-Cu-PGE sulphide mineralisation associated with mafic and ultramafic intrusions, as well as alluvial Au deposits. Previous exploration and mineral development activities in the general Project area have highlighted several Cu-Co and Ni-Cu-PGE anomalies. The rugged terrain at Mt Ruby in the far western portion of the Project contains a number of untested high-priority VTEM conductivity anomalies, as well as anomalous rock chip samples associated with compositionally layered sequences of the Riddock Amphibolite. The potential for the Project area to contain economic mineralisation appears to be good, and further exploration assessment work is warranted.