EL 32292 Annual Report for the Period 22 April 2022 to 21 April 2023

Abstract

Exploration Licence EL 32292 is centered approximately 297km east of Tennant Creek and 125km east of Barkly Homestead (Figure 1). The licence can be accessed from Tennant Creek east along the Barkly Highway then via the Ranken Road. The tenement area is gently undulating. Soils are generally shallow lithosols, but fine grained alluvial soils occur in the valleys and surrounding plains. The licence is held by Barkly Operations Pty Ltd, a wholly-owned subsidiary of Middle Island Resources Limited. The target of exploration in the Barkly area is primarily Tennant Creek style mineralisation and IOCG deposits hosted within the Proterozoic basement. Extensive flat areas dominate the western licence area, largely covered by colluvium, scree, sheetwash and dune sand, sandy soil, alluvial deposits. The centre of the licence is dominated by arcuate hills of the Short Range. The basement rocks on EL 32292 are considered to be prospective for IOCG and sediment hosted base metals mineralised systems. Exploration work completed during the 2022-2023 reporting period (Figure 4) comprised gravity inversion modelling and aeromagnetic interpretation. The available geophysics datasets do not allow detailed analysis of the basement structures on EL 32292. Ongoing commitment to exploration on EL 32292 is based on the complex district structural setting. Additional data in the form of detailed aeromagnetics and or ground gravity is required for targeting