On 7 January 2014, EPM 25146 “Toondoon” was granted to ABx3 Pty Ltd (“ABx3”), a fully owned subsidiary of Australian Bauxite Limited (“ABx”), initially for a period of three years. It was renewed until 7 January 2020.

EPM 25146 is composed of three (3) sub-blocks which equates to about 9.27 km2.

ABx3 Pty Ltd manages the ML 80126 “Toondoon ML” which lies over two of the three sub-blocks of the Toondoon EPM 25146. ABx3 conducted investigative drilling within ML 80126 in 2012 and confirmed the presence of a 3.5 million tonne JORC-compliant bauxite resource, a result which has direct implications for the exploration potential of EPM 25146.

ABx3 applied for EPM 25146 to assess the immediate surroundings of ML 80126 in order to find additional bauxite to add to the existing resource. ABx3 recognises the EPM as an important opportunity for expanding bauxite resources. Even a relatively modest tonnage at EPM 25146 would be of interest due to its proximity to the Binjour EPM 18014, which is ABx3’s flagship project in Queensland, and which has a declared JORC-compliant resource of 24.5 million tonnes of trihydrate bauxite.

Under the current regulatory implementation of the Act, exploration or geological assessment is not permitted until an exploration permit or similar tenement is approved. ABx used its passive proprietary exploration technology to the tenement area, without disturbance to the land, and determined that the potential for extensions of the Toondoon bauxite resources into the area of EPM 25146 was modest but some reasonable potential exists for additional kaolin resources.

During the 2018-19 reporting period, ABx3 identified kaolin mineralisation within the drillholes completed in ML 81026 at Toondoon in 2012 suggesting the possible existence of additional high quality kaolin beneath bauxite within EPM 25146.

During the 2019-20 reporting period, most time and money was spent in the process of gaining an extension to the term of the EPM for the 2020 calendar year which is when ABx expected to make its Mining Lease Application at the Binjour Plateau (Sunrise Bauxite Project) and complete its determination of any role that the Toondoon bauxite resources may play in that Binjour project .

During the 2020-21 reporting period, the impact of the COVID-19 global pandemic meant that no exploration could be carried out on the tenement and, in accordance with the Law of Diminishing Returns, ABx3 could not justify further exploration investment.