Mary River Project EL 31764 Annual Report for the period 6 July 2018 to 5 July 2019

Abstract

Bacchus Resources' (Bacchus) Mary River Project consists of Exploration Licence (EL) 31764 and is located approximately 220 km south-east of Darwin and approximately 50 km east of Pine Creek. The Mary River 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 tin-tantalum mineralisation with mining and exploration occurring in the region since the early 1870's. The project area covers prospective Lower Proterozoic sediments including those of the South Alligator Group occurring as a sliver along the Coronet Fault which extends through the project area. Successive appraisals of the area by historic and modern explorers has shown the Coronet Fault zone and parallel structures to be anomalous in tin, tungsten, silver and base metals. Within EL 31764, exploration will focus on testing the potential for economic gold and base metal deposits within the Palaeoproterozoic metasediments.