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This is the Second Annual report and Final report for EPM 26953 ‘Cloncurry 7’, that summaries exploration activities conducted between the 11th April 2020 to 12th Jan 2021 when the tenure conditional surrendered.

This exploration permit is being worked on as part of a package of tenements held by Rio Tinto Exploration (RTX) in the Mount Isa Cloncurry region. Work completed during the life of the tenement since it was granted to RTX in April 2019 includes completion Two diamond drill holes, Xcite airborne Time Domain Electromagnetic (TDEM) and Magnetic system survey, ground gravity survey and 5 line-km Induce Polarisation (DDIP) survey.

The EPM26953 (Cloncurry7) has been conditionally surrendered on 12th January 2021 in favour of amalgamation with three other RTX tenements (EPM27280, EPM26145 and EPM26602) in replacement with EPM27527 (Cloncurry North). Grant of Exploration Permit, 12 Jan 2021, Department of Resources, Reference 310309.

During this reporting period, Zonge Engineering and Research Organization (Zonge) were commissioned by RTX to conduct a time Dipole-Dipole Induced Polarisation (DDIP) survey. A time domain DDIP survey providing up to 16 channels of data using 100 m receiver dipoles was carried out over three lines over approximately 5 kilometres within the tenement boundary. All the chargeability anomalies appear to be associated with interpreted black Shale unit.