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Project Overview

The Shoobridge Project consists of two of the eight NT Tenements (EL31409 and EL32275) and is prospective for gold and uranium. Both tenements are made up of two, discontiguous areas. The Project straddles the Stuart Highway about 50km north-west of Pine Creek. Access is via the Stuart Highway which passes through the tenements. The tenement is within the Douglas Pastoral Lease. Outcrop of Pine Creek orogenic sequence occurs through much of the tenement and this area comprises undulating hills and ridges of low to moderate relief. Ephemeral creek systems have dissected the softer units locally making access complex and difficult except on established tracks.

Figure 6: Location of Shoobridge Project

The Project area consists primarily of the Lower Proterozoic Burrell Creek Formation (feldspathic metagreywackes, minor lenses of volcanilithic pebble conglomerate, laminated phyllite, slate and mudstone), and the underlying Mt Bonnie Formation of the South Alligator Group (interbedded carbonaceous slate, phyllite, mudstone and siltstone; feldspathic meta‐greywacke and ferruginous phyllite (metasiltstone) with chert bands, lenses and nodules).

Uranium mineralisation in the Project area appears to be controlled by two major fault structures, known as the Hayes Creek Fault and Bella Rose Fault. The Hayes Creek Fault is interpreted to be a zone of multiple, parallel fractures up to 200m wide. It is interpreted to dip moderately to steeply to the northwest, is possibly a reverse fault with a small component of left lateral movement. The Bella Rose Fault appears to dip steeply to the southeast and has a large component of right lateral movement. There is no evidence for ductility in either fault at photo scale.

Figure 7: Geology of Shoobridge Project with Prospect Locations

The central part of the Project contains stratigraphic units directly along strike from the Cosmo Howley gold mine which produced 6.98Mt at 2.1g/t Au for Dominion Mining Limited between 1987 and 1994. The mine is currently owned by Kirkland Lake Resources Limited and is under care and maintenance. The eastern part of the Project area contains previous exploration that had delineated uranium mineralisation. Historic drilling has delineated uranium mineralisation at the Bella Rose and Long Island prospects. These prospects are associated with regional structures, the Hayes Creek and Belle Rose Faults that contain uranium mineralisation in other prospects along strike from the Project’s tenements. Significant drilling results from the Bella Rose prospect are tabulated below.

Several programs of auger and soil sampling have been completed over various parts of the Project area.

Exploration is planned along strike from the Cosmo Howley deposit targeting the Gerowie Formation. Previous geochemical surveys require verification or may be re-done to provide data to be used for targeting potential drilling programs.

Additional targeting work on the Bella Rose, Long Island and Wildcard uranium prospects will include geophysical surveys and possible drilling programs depending on results. The more advanced Bella Rose deposit will be targeted with RC and DDH programs to extend the uranium mineralisation footprint and to delineate further high grade uranium mineralisation.

It is noted that for all historic assay information for Shoobridge there has been no analysis for lithium. The Independent Geologist recommends any future sampling should be analysed for lithium to assess the lithium potential of the Shoobridge pegmatite field.

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