Year 1 Annual Report EL 31624 Mosquito Creek for the reporting period 18 June 2018 to 17 June 2019

Abstract

EL 31624 is part of Treasure Creeks new Tennant Creek tenement package and is part of an overall exploration strategy targeting iron oxide copper gold mineralisation in the region. The company has undertaken significant historical, geological and geophysical data review on the tenement with over 40 historical reports downloaded but work is ongoing. A geophysical review of available data for Treasure Creeks Kurinelli and Kurundi Projects has commenced (by Geophysical Consultants - Resource Potential). Multiple gravity and magnetic images have been produced. Additional localized image processing and unconstrained 3D gravity and magnetic inversion modelling has been completed over the area of Warramunga Formation area which is buried beneath shallow Cambrian cover. There are multiple other targets within the tenement and review work is ongoing. The primary target on this tenement is IOCG within the Warramunga Formation (Host to the Tennant Creek and Rover gold fields) under shallow Cambrian cover. The company is planning to utilise a new geophysical technique called passive seismic which will allow information to be gained on cover sequence depth and also possibly identify any dense bodies (possible ironstone bodies) up to 600m below surface. The company believes that with a modern geophysical approach a new exploration model and exploration strategy is developing. In recent years the importance of hematite rich iron oxide copper gold deposits (ie deposits with a gravity high but no coincident magnetic high) as a valid IOCG (Iron Oxide Copper Gold) target has been recognised by other companies. The company believes that with a modern geophysical approach a new exploration model and exploration strategy is developing. In recent years the importance of hematite rich iron oxide copper gold deposits (ie deposits with a gravity high but no coincident magnetic high) as a valid IOCG (Iron Oxide Copper Gold) target has been recognised by other companies. Once review work is completed ground geophysical surveys followed by a drill programme will be commenced during year 2. The company is planning to utilise a new geophysical technique called passive seismic which will allow information to be gained on cover sequence depth and also possibly identify any dense bodies (possible ironstone bodies) up to 600m below surface.