In 2013 the Charley Creek Project Scoping Study was completed and released to the market. This was the result of several years of extensive field work and multi-disciplinary studies, at the time it served as the basis of the project concept. Since that time we have focused our efforts on the Cattle Creek region. In June 2019 our team drilled 139 holes (3,744 samples) and assayed 105 holes (1,200 composite assays).

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Not surprisingly, with more information, we can update our project assumptions and potentially redefine the project. The infill drilling density is far greater than prior work. With greater geological resolution we are able to identify areas of higher grade and improve selectivity. Resource experts are modelling the mineralisation. This drilling programme has produced over 17 tonnes of samples for metallurgical testing. Whilst prior work focused solely on the recovery of monazite/xenotime minerals by gravity separation, the value of minerals below this horizon was not realised. A significant proportion of valuable Rare Earth Elements (REE) and other industrial minerals might be recoverable with further test work. Work is underway to investigate this potential.

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Through further study and test work, we aim to realise and maximise the value of minerals for the revised 2012 JORC compliant Resource Statement and Scoping Study.