EL 31225 Annual Report for the reporting period 23 December 2018 to 22 December 2019

Abstract

Territory Lithium acquired the tenement (EL 31225) based on the potential that the pegmatites in the region would be Lithium and / or Rare Earth Elements bearing. A review of previous exploration activity in the region indicated that there was also the potential for Ultramafic copper-cobalt-gold (Cu-Co-Au) mineralisation which further enhances the attractiveness of this prospective package. There is a very high cost associated with Central Land Council (CLC) exploration agreement negotiations and with the issuing of an Aboriginal Areas Protection Authority (AAPA) tenement Authorisation Certificate and so the work undertaken by Territory Lithium was all ground based and did not involve any ground disturbing activities. Further site clearance negotiations will depend on the allocation of funds. Activities undertaken by Territory Lithium Pty. Ltd included: 1. Field geological mapping and observations; 2. Sampling of selected rock specimens; 3. Desktop mapping of field observations.