EXPLORATION PERMIT FOR MINERALS 18053 BULONGA ANNUAL REPORT FOR THE PERIOD 27 APRIL 2018 TO 26 APRIL 2019

URL: https://geoscience.data.qld.gov.au/dataset/cr123202

ActivEX EPM 18053 (Bulonga) consists of 13 sub-blocks and comprises part of the ActivEX Cloncurry Copper and Gold Project. It is located approximately 45 km southwest of Cloncurry. The EPM represents a substantial holding within a highly prospective geological terrane, surrounded by several major deposits. The area has significant potential for IOCG mineralisation including skarn style mineralisation and possibly Stratiform Zn-Pb-Ag mineralisation. The tenement has been notably under-explored given the long-standing history of mineral exploration within the region and substantial scope remains to make a major discovery. Work in 2017 involved processing of available regional geophysics and structural interpretations. The work has assisted in developing a better understanding of the mode of emplacement for observed mineralisation with the identification of NE and NW orientated structural intersections appearing to control much of the significant mineralisation in the area. This is more likely due to enhanced dilation and hydrothermal fluid migration as modelled and proposed in the literature. In the 2019 the Company reviewed all historical exploration for the Cloncurry Project and organised several field trips to prospective joint venture companies who have expressed an interest in the Cloncurry Region. The result is that the Company has secured a joint venture partner who will be actively exploring the AIV’s Cloncurry Projects in 2020. The structural study completed in 2017 will form the basis of prospect ranking in conjunction with the specialised exploration skills of the incoming joint venture partner.