EPM27408 P.CRAIGIE SURRENDER REPORT FOR PERIOD ENDING 14 NOVEMBER 2022

URL: https://geoscience.data.qld.gov.au/dataset/cr136909

The Peter Craigie project consists of a single Exploration Permit for Minerals EPM 27408 which covers an area of approximately 146km2. The permit is located 95 km south of Mt Isa. EPM 27408 was granted on 01 March 2021 to Longreach No 1 Pty Ltd. On 14 November 2022 the Permit was fully surrendered. This document is the Final Report containing a summary of the results of exploration during the whole term of the permit.

The following scope of work completed during the reporting period: Year 1: detailed review of open file data; compilation, QA-QC and data validation; and geological interpretation Year 2: detailed geological interpretation and generation of targets for geochemical sampling.

The data compilation has confirmed that the tenement is underexplored but shows potential for significant copper mineralisation. The apparent positive magnetic response of the shear zone hosting the Peter Craigie Mine and the identification of bands of magnetite within the host gneiss, are both consistent with an IOCG model. However, the mineral system is still poorly defined and the results of drilling at the Peter Craigie Mine could not be acquired.

Further detailed geological and structural interpretation concluded there may be an IOCG target in the Eastern Creek Volcanics buried under barren sediments, with some fault related veins Cu on surface. It was concluded that potential targets are too deep for further exploration. It was recommended to discontinue exploration work at EPM 27408.