Prices Springs Project EL 31899 First Annual Report for the period 7 June 2018 to 6 June 2019

Abstract

Bacchus Resources' (Bacchus) Prices Springs Project consists of Exploration Licence (EL) 31899 and is located approximately 170 km south of Darwin between Adelaide River to the north and Pine Creek to the south. The Prices Springs project lies within the Archaean to Palaeoproterozoic Pine Creek Orogen (PCO), one of the major mineral provinces of Australia. The PCO is a deformed and metamorphosed sedimentary basin up to 14 km thick covering an area of approximately 66,000 km2. It is host to significant mineral resources of gold, uranium and platinum group metals, as well as substantial base metals, silver, iron and tintantalum mineralisation with mining and exploration occurring in the region since the early 1870's. For the year ending 2019, the first year of tenure, work has included a comprehensive compilation and review of previous exploration, with historical drilling and sampling data compiled into a database. Within EL 31899, exploration will focus on testing the potential for economic gold and base metal deposits within the Palaeoproterozoic metasediments.