EL 31937 Illogwa Project Annual Report for the period 2 January 2020 to 1 January 2021

Abstract

EL 31937 (Project) is located approximately 145km ENE of Alice Springs. The Project is located north of the Basil Cu-Co deposit (on EL 26942), and west of the important Ni-Cu-PGE prospects at Blackadder and Baldrick. Typhon is assessing the potential of the Project for Basil-style Cu-Co sulphide deposits, Ni-Cu-PGE sulphide mineralisation associated with mafic and ultramafic intrusions, as well as bedrock and alluvial Au deposits. Previous exploration and mineral development activities in the general Project area have highlighted several Cu-Co and Ni-Cu-PGE anomalies. During the reporting period, Typhon compiled and historical geological, geophysical, remote sensing and exploration work undertaken over the Project area. Geological reconnaissance and field checking has also been undertaken. Given the proximity of the Project to the Basil Deposit, Typhon offered to purchase a 100% interest in EL 26942. It is anticipated that Typhon will take full ownership of EL 26942 during the first quarter of 2021. The amalgamation of EL 26942 with Typhon's tenements will mean that the exploration potential of the Project will be maximised as Typhon will be able to gain an in depth understanding of geological units hosting the mineralisation on EL 26942. The potential for the Project area to contain economic mineralisation appears to be good, and further exploration assessment work is warranted.