EL 30205 Kurundi Project Annual Technical Report for the period 17 July 2018 to 16 July 2019

Abstract

The Kurundi project comprised four exploration licences; 30040, 30205, 30468 and 30664 which were held by the Kurundi Group until the first quarter of calendar year 2018 when ELs30468 and 30664 were relinquished. In April and July ELs 30040 and 30205 were partially relinquished to 8 and 4 blocks respectively. In December 2018 the Mine Management Plan covering ELs 30205 and 30040 was relinquished. EL 30040 was surrendered in April 2019. EL 30205 consists of 4 blocks. The project area hosts part of the historic Kurundi goldfield and is located in the Davenport Province, located in the central part of the Northern Territory. EL 30205 was granted on 17 July 2014. Nil exploration activity has occurred in the reporting period due to no progression toward the drilling program proposed in the approved mine management plan and individual title holder circumstances. The title holders have submitted nil expenditure reports for the period and lodged an application for a Variation of Covenant - Expenditure Condition Not Met.