Combined Annual Mineral Exploration Report GR563 Carrara Project Barkly Tableland NT for the Period 27 October 2023 to 26 October 2024

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 2023 - 26th October 2024. The Carrara Project is located in the Barkly Tablelands approximately 340km east northeast of Tennant Creek, 730km southeast of Katherine and 630km northeast of Alice Springs (Figure 1) and consists of four (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 Zn - Pb mineralization within the Lawn Hill Formation. Exploration work carried out during the reporting period included completion of a three hole diamond drill program.