EL 31773 Annual Technical Report for the period 9 July 2018 to 8 July 2019

Abstract

EL 31773 is located approximately 70 km south of Darwin and 8 km west of Batchelor. Access from Darwin is via sealed roads to Batchelor and then westward via Fowler Road or Litchfield Park Road. EL 31773 was granted on the 9th July 2018 for a term of six (6) years to Northern Territories Resources Pty Ltd and comprises four (4) blocks for approximately 9.91 km. The area was previously held under tenement EL 23677 and managed by NTR. Due to the deregistration of one the titleholders, a renewal application for EL 23677 was refused and accordingly the area was open for application on 11 December 2017. Activities over the tenement have formed part of the Company's regional exploration strategy targeting discovery of polymetallic mineralisation within the highly prospective Rum Jungle Mineral Field. Several regional geophysical surveys have been completed over the area including electromagnetics, magnetics and airborne gravity. During the reporting period, the tenement (9.91 km) was subject to a regional LiDAR survey with the area flown with 2-point coverage or one-metre resolution. Additional activities have focussed on the compilation of exploration works completed by Doe Run. This succeeds the termination of a Heads of Agreement between Cove House and Northern Territories Resources ('NTR' or the 'Company') through which Doe Run were granted an exclusive right to complete detailed geological assessment of nominated tenements held by NTR, including EL 31773. Since termination of this agreement NTR has implemented a sale process targeting identification of a potential purchaser to reinstate project operations and exploration activities.