Lost Hill Project EL 31700 Annual Report for the period 25 May 2018 to 24 May 2019

Abstract

The Lost Hill exploration licence, EL 31700, covers an area of 1 graticule and is located approximately 140 km southeast of Darwin. EL 31700 was granted to Bacchus Resource on the 25th May 2018 for a period of six years. An application to amalgamate EL 31700 with EL 31892, which was recently granted to Bacchus is currently being processed. During the first year of tenure, previous exploration was reviewed, with historical drilling and sampling data compiled into the company database. EL 31700 is located within the vicinity of a number of historical workings including the Great Northern, Great Western, Star of the North deposits, as well as the Goodall Mine which is located several kilometres to the south of this lease. Gold production is associated with quartz veins, lodes, sheeted veins, stockworks and saddle reefs, with most of the deposits found near or within the Pine Creek Shear Zone, which stretches from Katherine to Darwin, within the contact metamorphosed metasediments adjacent to the granite plutons of the Cullen Supersuite. Exploration in Lost Hill will mainly focus on testing the potential for economic gold and base metal deposits within the metasediments of the Burrell Creek Formation.