EL 31421 DC West Project Annual Report for the period 23 June 2018 to 22 June 2019

Abstract

EL 31421 (Project) is located approximately 130 km WNW of Katherine and 100 km SW of Pine Creek. Previous exploration and mineral development activities in the Project area have highlighted base metal, uranium and REE occurrences. The general area of this application also contains a number of barite occurrences. CopperOz Pty Ltd is assessing the potential of the application area for hydrothermal Pb-Zn-Cu deposits, uranium and REE deposits, barite deposits and alluvial gold deposits. During the reporting period, CopperOz Pty Ltd continued to compile and assess all available geological, geophysical, remote sensing and exploration work undertaken over the Project area. The potential for the Project area to contain significant REE and U mineralisation appears to be good; however, the economic aspects need to be more fully assessed in the current low price environment for these commodities. Preliminary assessment suggests that it would be feasible to produce a high-purity REE product containing only low concentrations of uranium and thorium.