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June 2018 Quarterly Report

Quarterly Report and Cash Flow for 30 June 2018

Punt Hill/Pernatty Lagoon JV, SA, Copper-Gold
  • Successful execution of Native Title Mining Agreement for Exploration.
  • Heritage surveys completed in preparation for significant proof of concept drill program totaling more than 6,000 metres.
  • Drilling on schedule to commence early September.
Maronan, QLD, Silver-Lead & Copper-Gold
  • Regional ground electromagnetic surveying targeting additional copper-gold resources highlights strong conductor south of the Maronan deposit.
  • Preparations for drilling are underway.
Three-Ways, QLD, Zinc-Lead-Silver
  • Exploration permits secured over new zinc prospective sub-basin interpretation - 130 kilometres north of the large Dugald River zinc-lead-silver deposit.
  • Magneto-telluric survey lines map thick, highly conductive sedimentary sequences that are the key to finding large Mount Isa style zinc deposits.
  • Conductive sequences remain untested by past exploration.

Gulf Project, QLD, Copper-Gold

  • Higher resolution gravity surveying initiated over several previously untested Iron-Oxide Copper-Gold (IOCG) target areas.

Yarrie, WA,Copper-Cobalt

  • Significant new project secured in the Paterson Province along trend from the Nifty Copper mine and a new Rio Tinto copper play.
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Announcement 18 July 2018

Electromagnetic Survey Results from Maronan Project, QLD

A ground-based electromagnetic survey recently completed over the whole of the Maronan project in Northwest Queensland, has discovered two strong, regionally significant, conductors just three kilometres south of the existing Maronan lead-silver and copper-gold deposit. 
 
The new southern conductors are about 400 to 600 metres long and model at a depth of about 100 metres below surface.  Magnetic imagery places the southern conductors at the hinge zone to a regional fold closure (the Southern Fold Structure) which sits about 300 metres within the southern boundary of the Maronan tenement.