Carrara Project Combined Annual Mineral Exploration Report GR563 for the Period 27 October 2021 - 26 October 2022

Abstract

This Combined Annual Mineral Exploration Report (GR563) describes all exploration work carried out by South32 Ltd and Baudin Resources Pty Ltd on the Carrara Project for the reporting period 27th October 2021 - 26th October 2022. The Carrara Project is located in the Barkly Tablelands approximately 340km ENE of Tennant Creek, 730km Southeast of Katherine and 630km Northeast of Alice Springs (Figure 1), and consists of 4 Exploration Licences (EL's); EL 32476, EL 32477, EL 32701, and EL 32813 covering a total area of approximately 2,435 square kilometers. Carrara is located at an interpreted structural offset of the western margin of the Carrara Sub-basin where the prospective Isa Superbasin units are modelled closer to surface and is prospective for sediment-hosted Pb-Zn mineralization within the Lawn Hill Formation. Exploration work carried out during the reporting period included desktop & field reviews, seismic reprocessing and interpretation, pyrite analysis, interpretation and reporting and a ground gravity survey.