Announcement PDF ANNUAL REPORT For the year ended 30 June 2023 1 CONTENTS Page Directors’ Report 4 Auditors’ Independence Declaration 30 Consolidated Statement of Comprehensive Income 31 Consolidated Statement of Financial Position 32 Consolidated Statement of Cash Flows 33 Consolidated Statement of Changes in Equities 34 Notes to the Consolidated Financial Report 35 Director's Declaration 58 Independent Auditor's Review Report 59 Additional ASX Information 63 2 BATTERY AGE MINERALS LTD Corporate Information For the Year ended 30 June 2023 DIRECTORS Mr Robert Martin Mr Gerry Fahey Dr. David Pevcic Non-Executive Chairman Non-Executive Director Non-Executive Director MANAGING DIRECTOR & CEO Mr Gerard O’Donovan CHIEF FINANCIAL OFFICIER Mr Paul Hughes COMPANY SECRETARY Mr Harry Spindler REGISTERED OFFICE Level 50, 108 St Georges Terrace Perth WA 6000 Telephone (08) 6109 6689 Website www.batteryageminerals.au POSTAL ADDRESS P O Box 7310 Cloisters Square PO WA 6850 AUDITORS BDO Audit (WA) Pty Ltd Level 9, Mia Yellangonga Tower 2 5 Spring Street Perth WA 6000 SHARE REGISTRY Computershare Investor Services Pty Ltd GPO Box 2975, Melbourne Vic 3001 Telephone: 1300 850 505 ASX Code BM8 ACN 085 905 997 ABN 80 085 905 997 In this report, the following definitions apply In this report, the following defini�ons apply: “Board” means the Board of Directors of Batery Age Minerals. “BM8” or the “Company” means Batery Age Minerals Limited ABN 80 085 905 997 3 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 Your Directors present the financial report of Battery Age Minerals Limited (BM8, Battery Age Minerals or the Company) (ASX: BM8) (formerly Pathfinder Resources Limited) and its controlled entities (the Group) for the Year ended 30 June 2023. In order to comply with the provisions of the Corporations Act 2001, the Directors report as follows. DIRECTORS The names and particulars of the Directors of the Company who are in office at the date of this report are: Director Robert Martin Gerry Fahey David Pevcic Gerard O’Donovan Position Non-Executive Chairman Non-Executive Director Non-Executive Director Managing Director Appointed 12 April 2022 2 February 2023 2 February 2023 10 August 2023 The names and particulars of the Directors of the Company who are not in office at the date of this report but who held office during the year are: Director Stephen Windle Sufian Ahmad Mr. Robert Martin Experience Position Non-Executive Director Non-Executive Chairman Appointed 5 October 2021 1 December 2020 Resigned 31 May 2023 31 January 2023 Non-Executive Chairman Mr Robert Martin is a commercial businessman with over 25 years’ experience across a broad range of sectors including mining, manufacturing, mining services and capital markets. Mr Martin previously operated a highly successful global mining services company which became a leading provider of products and services to the mining industry. Mr Martin now runs a family office in Western Australia with a focus on investing and supporting emerging private and public businesses. Mr Martin currently holds the positions of Non-Executive Chairman at ASX-listed Critical Resources Limited (ASX: CRR) and Non-Executive Chairman at ASX-listed Equinox Resources Limited (ASX:EQN) and Parkd Limited (ASX: PKD). The Board considers Mr Martin is an independent Director. Interest in Shares and Options Direct Interest (Shares) – 1,310,000 Direct Interest (Options) – 1,686,668 Indirect Interest (Shares) – nil Indirect Interest (Options) – nil Directorship held in other listed entities Critical Resources Limited (ASX:CRR) - Appointed 4 February 2021 Equinox Resource Limited (ASX:EQN) - Appointed 10 May 2022 Parkd Limited (ASX: PKD) - Appointed 28 February 2019 Pioneer Lithium Limited (ASX: PLN) – Appointed 16 November 2022 Mr. Gerry Fahey Experience Non-Executive Director Mr Fahey has over 40 years’ experience in both the international and local minerals industry. He is a specialist in mining geology, mine development and training and worked for 10 years as Chief Geologist Mining for Delta Gold where he was actively involved with the development of the Eureka, Chaka, Globe and Phoenix gold mines and the following Australian gold projects: the Kanowna Belle, Golden Feather, Sunrise and Wallaby. Mr Fahey is currently a Director of Prospect Resources which in April 2022 sold its 87% stake in its Arcadia Lithium Project located in Zimbabwe for approximately US$378 million cash to Zhejiang Huayou Cobalt. He is also a director of Focus 4 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 Minerals Ltd and formerly a Director of CSA Global Pty Ltd, and member of the Joint Ore Reserve Committee (JORC). The Board considers that Mr Fahey will be an independent Director Interest in Shares and Options Direct Interest (Shares) – 62,500 Direct Interest (Options) – 83,334 Indirect Interest (Shares) – nil Indirect Interest (Options) – nil Directorship held in other listed entities Prospect Resources (ASX: PSC) – Appointed 15 July 2013 Focus Minerals Limited (ASX: FML) – Appointed 18 April 2011 Dr. David Pevcic Experience Non-Executive Director Dr David Pevcic is a successful investor and businessman, with a principal focus on the mining and resources sector. Dr Pevcic is the founding director of several privately owned mineral exploration companies, which have executed transactions with both ASX and TSX-listed companies. In addition, Dr Pevcic is an advisor to Good Earth Dairy, Western Australia’s first and leading camel dairy. Dr Pevcic holds a Bachelor of Science, Bachelor of Medicine and Bachelor of Surgery from the University of Western Australia and is a Member of the Australian Institute of Company Directors. The Board considers that Dr Pevcic is an independent Director Interest in Shares and Options Direct Interest (Shares) – 2,847,396 Direct Interest (Options) – 1,699,133 Indirect Interest (Shares) – nil Indirect Interest (Options) – nil Directorship held in other listed entities Nanoveu Limited (ASX: NVU) - Appointed 3 February 2023 Infini Resources Limited – Appointed 16 December 2021 Mr. Gerard O’Donovan Experience Managing Director Mr O’Donovan has a strong lithium and mine development background with close to 15 years demonstrated success in managing large scale construction and mining development projects and operations across various commodities including lithium, copper and iron ore. He has worked with a range of companies, most recently Pilbara Minerals, where as Project Manager, he was responsible for successfully leading the development and bringing into operation of the Pilgangoora lithium-tantalum Stage 1 mine and processing facility. Mr O’Donovan holds a Bachelor of Engineering (Hons), Civil & Structural and has also carried out further studies in the fields of Sustainability, Circular Economy & Social Governance. The board considers Mr O’Donovan not to be an independent director. Interest in Shares and Options Direct Interest (Shares) – 125,000 Direct Interest (Options) – 166,667 Performance Rights – 1,000,000 Indirect Interest (Shares) – nil Indirect Interest (Options) – nil Directorship held in other listed entities James Bay Minerals (ASX:JBY) – Appointed April 2023 Pioneer Lithium (ASX: PLN) – Appointed 19 June 2023 5 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 Mr. Sufian Ahmad Experience Non-Executive Chairman (resigned 31 January 2023) Mr Ahmad is the founder of Sixty Two Capital Pty Ltd, which specialises in providing corporate advice and capital raising services to emerging Australian companies across a diverse range of industries. Mr Sufian brings significant legal, business and marketing experience to the board with over 10 years of experience in trading, investing and the provision of corporate advisory services. Mr Ahmad holds a Master of Business Administration, a Post-Graduate Diploma in Commercial and Resources Law, Bachelor of Law (Hons) and Diploma in Financial Planning. Mr Ahmad has not held any other listed directorships in the past three years. The board considers Mr Ahmad not to be an independent director. Interest in Shares and Options Direct Interest (Shares) – 6,642,346 Direct Interest (Options) – 2,500,000 Indirect Interest (Shares) – nil Indirect Interest (Options) – nil Dr. Stephen Windle Experience Non-Executive Director (resigned 31 May 2023) Dr. Windle is a Brisbane based geologist with over 30 years’ experience in exploration management, geo-metallurgy, resource modelling, and exploration technology, specialising in intrusion related copper-gold and base metals systems. Dr. Windle previously held senior roles at Xstrata, managing exploration and assisting in the feasibility studies for the Frieda River Cu-Au deposit. He subsequently spent 9 years in Peru, serving as Geology Manager for the Cu-Zn Antamina project, the largest operating polymetallic skarn ore-body in the world. Since 2017, Dr. Windle has also provided consulting services to a number of projects hosting porphyry, skarn and epithermal systems, including the Zafranal project owned by Teck Resources and MMC (Mitsubishi Materials Corporation). Dr. Windle holds an undergraduate degree from Cambridge University and completed MSc and PhD programmes at Otago and Southampton Universities respectively. The Board considers Dr Windle is an independent director. Interest in Shares and Options Direct Interest (Shares) – nil Direct Interest (Options) – nil Indirect Interest (Shares) – nil Indirect Interest (Options) – nil COMPANY SECRETARY Mr. Harry Spindler Company Secretary Experience Mr. Spindler is an experienced corporate professional with a broad range of corporate governance and capital markets experience, having held various company secretary positions and been involved with several public company listings, merger and acquisition transactions and capital raisings for ASX-listed companies across a diverse range of industries over the past 22 years. Harry is a member of the institute of Chartered Accountants Australia and New Zealand and a member of the Financial Services Institute of Australia. Mr Spindler began his career in corporate recovery and restructuring at one of Australia’s leading independent financial advisory and restructuring providers Ferrier Hodgson (now KPMG) and has for the past 11 years worked for corporate advisory firms through which he has advised a number of clients in a range of industries, 6 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 as well as held positions as company secretary for a number of ASX-listed companies, including Sino Gas & Energy Holdings Ltd (ASX: SEH; ASX 300), an Australian energy company focused on developing gas assets in China. Harry is also Company Secretary of Balkan Mining and Minerals Limited (ASX: BMM), Equinox Resources Limited (ASX: EQN), Critical Resources Limited (ASX: CRR), Hazer Group Ltd (ASX: HZR) and Delta Ridge Limited PRINCIPAL ACTIVITIES The company is a mineral exploration company which is presently focused on the exploration of battery minerals such as lithium, copper, germanium and zinc in Canada, Morocco and Austria. REVIEW OF OPERATIONS During the year ended 30 June 2023 the Company’s primary activities included the review and acquisition of the newly secured highly prospective battery mineral projects as well as works regarding the Company's ASX relisting, inclusive of a public offer which raised $6,500,000 as per its prospectus dated 7 December 2022 (“Prospectus”). As announced in October 2022, the Company entered into binding agreements to acquire, with multiple vendors, via two joint venture earn-ins and an acquisition, a diversified portfolio of strategic exploration assets, on which the Company will explore for critical battery and semi-conductor minerals, comprising the Ontario, Canadian based Falcon Lake Lithium Project, the Moroccan Tidili Copper Project and the Austrian Bleiberg ZincLead-Germanium Project. Following overwhelming support from shareholders, the Company subsequently completed these project transactions and capital raising in January 2023. 7 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 FALCON LAKE PROJECT LITHIUM, ONTARIO CANADA (90% INTEREST) The project area is located approximately 325 km North-northeast of Thunder Bay, Ontario which is the closest port of Lake Superior for seaboard access. The Project area is located approximately 75 km northeast of Armstrong, Ontario). The Falcon Lake claims can be split into three sub-projects (west, central and east claims) based on location. The Company proposed to acquire the “central” sub-claim from FEM under the Falcon Lake Acquisition Agreement. Whilst the other sub-project claim area’s were staked by the Company directly during the period. The Falcon Lake Project is surrounded by other lithium developers and explorers such as Green Technology Metals, Rock Teck, Imagine Lithium and Ultra Lithium. Nearby access to infrastructure is available with the Canadian National Rail Line running just south of the Company’s claims and the proposed Little Jackfish Hydro Electric Station only 10-15km away. The site is located approximately 4 hours from Thunder Bay. The Falcon Lake Lithium Project covers a total of 214 mining claims covering 4,280 hectares (42.8 km2) of ground in the east-west trending Caribou Lake-O’Sullivan Greenstone Belt which extends eastward into the OnamonTashota Greenstone Belt. 48 mining claims covering ~960 hectares (9.6km2) is the subject of the Falcon Lake Acquisition Agreement whilst the balance of 166 claims have been independently pegged by the Company. Local Geology Pegmatite dykes in the area include the Seymour Lake Pegmatite Group, Crescent Lake Pegmatite Group and the Falcon Lake Pegmatite Group. The pegmatite dykes generally occur in two dominant orientations, the first parallel to the granite-volcanic contacts and the second northeast-trending, parallel to a structural trend in the area. The Falcon Lake Pegmatite Group is described as consisting of 7 pegmatite dykes that intrude amphibolitized mafic meta-volcanic rocks within a 0.25 km x 4.5 km area between Funnel and Falcon Lakes including the Falcon Lake Discovery Pegmatite, Falcon Lake East Pegmatite, Falcon Lake West Pegmatite, Falcon Lake Far West Pegmatite and the North Lamaune Pegmatite. These pegmatites are spodumene-subtype and have some of the highest reported tantalum-rich oxide values in Ontario, associated with manganotantalite and 8 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 ferrotapiolite. Pye described these pegmatites as consisting of coarse-grained, unaltered spodumene and blocky potassium feldspar in a groundmass of quartz, albite, muscovite and minor apatite and tourmaline. Previous Exploration Most of the exploration work has centred around the Falcon Lake central subproject. The Mineral Deposit Inventory (“MDI”) occurrences recorded at Falcon Lake Central area by Pye (1968) include: (a) Falcon Lake Discovery (MDI52I08NE00012), (b) Falcon Lake Central West (MDI52I08NE00009) and (c) Falcon Lake Central East (MDI52I08NE00013). The first reported work on the Falcon Lake central sub-project property was completed in 1956 on the Falcon Lake Discovery, Falcon Lake Central West and Falcon Lake Central East occurrences. Recent (2009 onwards) exploration includes mapping, grab sampling and a small drilling program to confirm pegmatite continuity and lithium and tantalum tenor down dip from surface works. Drill holes intersected the lithium showings at depth, with an average width of approximately 15m and approximately 50m vertical depth from the surface. Diamond drilling has tested ~75m of the apparent 150m strike length to a vertical depth of ~50m below the surface. The southern extension of the zone has also been indicated on surface rock chip sampling. The northern extent of the dyke is truncated by an east-west trending gabbro sill. Enzyme Leach soil geochemistry could effectively expose the blind extension of this dyke north of the gabbro, where the landscape is dominated by thick overburden and outcrop is sparse. The first reported work on the Falcon Lake central sub-project was completed in 1956 by British Canadian Lithium Mines Ltd (“BCLM”). Recent (2009 onwards) exploration included mapping, grab sampling and a small drilling program to confirm pegmatite continuity. Previous drilling carried out by BCLM intersected lithium showings. Further exploration drilling in 2016 on the Falcon Lake central sub-project returned some extremely encouraging Li2O intercepts as follows: ▪ 24.4m at 1.43% Li2O from 10.9m; including 9.0m at 1.95% Li2O from 20.4m in drill hole FLDD006; and ▪ 21.7m at 1.09% Li2O from 48.0m; including 7.9m at 1.31% Li2O from 49.8m in drill hole FLDD001. Some of the significant drilling results from 2010 and 2016 drilling are included in Table 2 below. CO-10-001 From (m) 69.3 To (m) 83.3 Width (m) 14 Li2O % 0.99 Ta2O5 ppm 52.5 Be ppm 145.4 Cs ppm 166.0 Nb ppm 62.5 Rb ppm 2,081 including 69.3 74.3 5 1.25 46.6 214.7 189.8 69.4 2,862 and 79.3 83.3 4 1.50 47.9 128.7 120.1 78.7 1,658 CO-10-002 55.3 62.3 7 1.07 68.6 136.4 377.9 46.1 3,477 CO-10-003 39.4 50.4 11 1.10 50.0 115.2 83.3 62.5 1,377 including FLDD001 44.4 47 50.4 73.2 6 26.2 1.52 0.94 48.5 156.6 84.7 79.9 1,670 including 48 69.7 21.7 1.09 FLDD002 34 52.2 18.2 0.82 including 40.2 51.2 11 1.05 FLDD003 25.7 36.9 11.2 0.89 Hole ID 9 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 including From (m) 25.7 To (m) 31.6 Width (m) 5.9 Li2O % 1.34 FLDD005 55.7 58.2 2.5 0.91 FLDD006 10.9 35.3 24.4 1.43 Hole ID Ta2O5 ppm Be ppm Cs ppm Nb ppm Rb ppm * Li2O% calculated as (Li ppm/1,000,000) x 2.153 x 100% Table 2: Significant Intersections from 2010 and 2016 Drilling The Falcon Lake area is relatively underexplored but has geological characteristics favouring discoveries of more lithium pegmatites. In conclusion, the Falcon Lake Property is considered to have the potential to discover lithium and rare metals pegmatites within the Falcon Lake area. ESTABLISHMENT OF CANADIAN OPERATIONS The Company established a Canadian office to focus on the rapid exploration of the Falcon Lake Lithium Project, located in the Tier 1 mining jurisdiction of Thunder Bay in north-western Ontario. The Company appointed experienced Australian exploration geologist, Taylor Smith, as its lead in country Exploration Geologist, to reside in Thunder Bay. Mr Smith has 10 years’ industry experience including a role in the exploration, resource development and mining start-up phase of Pilbara Minerals Ltd’s (ASX: PLS) world-class Pilgangoora Lithium-Tantalum Mine in Western Australia. CANADIAN SITE TRIP Senior management visited Canada over a period of 3 weeks during the March Quarter. This visit included a site visit to the Falcon Lake Project to commence preparation for the Company’s maiden drill campaign. Figure 1 - Senior Management Taylor Smith & Nigel Broomham with Coast Mountain Geological at Falcon Lake Project The team also conducted meetings with key First Nations partners, provincial and federal government members, and the local community to grow and strengthen relationships prior to commencement of the maiden drill programme. The Company was also represented at PDAC 2023 in Toronto where it exhibited at the Toronto Metro Convention Centre and met with key members of provincial government. 10 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 Figure 3 - Battery Age Minerals exhibiting at PDAC 2023 (Taylor Smith & Nigel Broomham) EXPLORATION PERMIT APPROVAL – FALCON LAKE During the March Quarter, the Company received approval from the Ontario Ministry of Mines for the drilling permit application for its maiden drilling programme at its Falcon Lake Lithium Project in Canada. AWARD OF DRILLING CONTRACT Following receipt of the abovementioned statutory drill permit, the Company awarded the drilling contract for its maiden programme to highly regarded drilling contractor Rodren Drilling, based out of Winnipeg, Manitoba Canada. Rodren Drilling has over 40 years’ experience in drilling across a range of commodities and industrial sectors. They are well known for their unique ability to understand the needs of their clients along with their innovation, safety and the quality of their service. COMMENCEMENT OF MAIDEN DRILL PROGRAMME AT FALCON LAKE During the June Quarter, the Company commenced its maiden drill programme at the highly prospective Falcon Lake Lithium Project. Falcon Lake is located northeast of Thunder Bay on the Caribou O’Sullvan Greenstone Belt and ideally located close to key infrastructure including road, rail and proposed green power. The maiden drill campaign consists of ~5,000 meters of NQ drilling to be carried out by Rodren Drilling supervised by Battery Age personnel and supported by Coast Mountain Geological. The purpose of the programme is to further understand the scale of mineralisation of known lithium occurrences, geological setting, and the structural controls, as well as explore the potential of recently mapped spodumene bearing pegmatites at Falcon Lake. This maiden drill programme will inform Battery Age and generate further drilling targets such that additional drilling can be carried out in the near future. STAKING OF JESSE LAKE LITHIUM PROJECT (100% INTEREST, CANADA) During the June Quarter, Battery Age expanded its land holding in the Ontario region with the strategic staking of an additional 27km2 of prospective lithium tenure, the Jesse Lake Project. 11 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 Figure 4 - Jessie Lake Project location map The project area is strategically situated south of the Forgan Lake Lithium Occurrence and is in close proximity to the Georgia Lake pegmatite field. The Jessie Lake Project holds potential for Lithium-Caesium-Tantalum (LCT) pegmatites and is host to extensive metasedimentary units of the Quetico Subprovince, the same bedrock that host the Georgia Lake and Forgan Lake LCT pegmatites. The Company aims to leverage this prospective ground to expand its land holding in Ontario and diversify its presence in a region known for its proven mineral resources, including Rock Tech Lithium Gorgia Lake project, which has a NI43-101 reported a mineral resource of 10.Mt @0.88% Li2O (Indicated) and 4.2Mt @1% Li2O (Inferred) 1. The Company intends to prospect the Jesse Lake Lithium tenure further, later in the year. Figure 1 - Pegmatites at Jesse Lake 12 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 EXECUTION OF EARLY EXPLORATION AGREEMENTS During the June quarter the Company executed key agreements with its First Nations Groups Whitesand, AZA and Aroland. Battery Age is grateful for the support and endorsement of its First Nation communities and is committed to continuing to work closely with them throughout all stages of the project. The Company believes that, by working collaboratively with Indigenous communities, it can create long-lasting and mutually beneficial partnerships that generate significant economic opportunities and contribute to the sustainable development of local communities. Battery Age is grateful for the supportive collaboration and progressive discussions it has held with Aroland and AZA since first meeting the groups in late 2022. The Company would like to thank respective Chiefs and Council for their assistance in finalising this agreement. Battery Age is grateful for the support and endorsement of Whitesand First Nation and is committed to continuing to work closely with Whitesand throughout all stages of the project. The Company would like to thank Chief Gustafson and the council for their ongoing support. We feel that we are strongly supported by the groups and have enjoyed our engagement to date and look forward to the development of strong relationships moving forward. TIDILI PROJECT COPPER GOLD, MOROCCO (85% INTEREST) The Tidili Project comprises of one mining Lease (383699) and 2 exploration licences (3842355 and 3842356) which cover an area of approximately 34km2 located in the Municipality of Tidili, Province of Ouarzazate, Region of DraaTafilalet of Morocco. The Tidili Project is located about 80km southeast of Marrakesh. The Tidili Project is located about 50km to the northwest of Ouarzazate and belongs to the Ouarzazate Group of the Upper Neoproterozoic age. Precambrian basement terrain occupies the entire study area. It consists mainly of basic and acidic igneous rock and highly metamorphosed sedimentary facies. These terrains are affected by a network of faults, and the development of compressive tectonic structures expressed as strike-slip and reverse faults is notable. The polymetallic Cu, Zn and Pb mineralisation of the Tidili area is notably subject to magmatic activity during the Pan-African orogeny which was probably remobilised by other Paleozoic tectonic events. It corresponds to the structures embedded in the supergroup formations of Ouarzazate. These faults and strikeslip structures are filled with hydrothermal fluids marked by brecciation and sometimes oxidation at the outcrop. The geochemical analysis of the samples taken from the mineralised structures showed the polymetallic character of this mineralisation marked by high contents of base metals (copper and lead) and gold. The Tidili Project is a “greenfield” project and exploration activities to date have included some mapping and sampling. The geochemical analysis of the samples taken from the mineralised structures showed the polymetallic character of this mineralisation marked by high contents of base metals (copper and lead) and gold. Local Geology The Tidili claim area is part of the Ouzellarh massif (Choubert, 1952; Michard et al. 2010; Toummite et al. 2012) and contains rocks whose age varies from Neoproterozoic to recent. In the Tidili region, the Ediacaran formations consist mainly of rocks composition of basalts (rare) to andesites (common) at the bottom of the sequence, rhyodacites in the middle of the sequence, and felsic volcano-detrital13 BATTERY AGE MINERALS LTD Directors’ Report For the Year ended 30 June 2023 epiclastic rocks covered with basalts at the top of the sequence (Bajja et al. 1999; Ben Chra, 1997, Diallo, 1989, Zahour, 1990, Youbi, 1998; Pouclet et al. 2007). The lithostratigraphic succession of the Amssozerte-diorite formations, related to the Askaoun granodiorite, lower porphyritic andesites and basaltic basalts (Belkacim, 2014), massive flows of dacitic to rhyolitic lava, more than 1000m thick, covered by pyroclastic ignimbrite flows, then abundant doleritic and basaltic dykes, trending N30°E to NS, ranging from 2m to 15m thick, and crossing dacitic to rhyolitic lava flows, finally basaltic lava flows dipping 30° NW. The contact between the basalts and the ignimbrites is underlain by breccia containing rhyolitic and pyroclastic fragments; these basalts are not studied here. According to the geological map of Douarçoure at 1:50,000, the area is made up of magmatic and volcanic terrain with appointments from the formations of metamorphic detrital sediments during the Pan-African orogeny. The basement mainly constitutes Ouarzazate group facies. The presence of Granites, Andesites and Rhyolites were noted in the field, materialised by schistose sedimentary and magmatic rocks and metamorphosed in an anchizonal to epizonal climate by the orogenies that affect the area Mineralisation The claim area contains Cu and Pb mineralisation, hosted in magmatic and sedimentary rocks of the Precambrian age. The mineralised structures are faults or recesses with sometimes an oxidation which varies from one zone to another depending on the nature of the filling and the lithology of the rock. This polymetallic mineralisation is probably related to magmatic and volcanic activities. Tidili has clear and distinctive zoning of alteration and mineralisation (Cu, Co, Zn, Ni +/- Au) which has been associated with early Granite intrusions and later hydrothermal fluids. Tidili has clear and distinctive zoning of alteration and mineralisation (Cu, Co, Zn, Ni +/- Au) which has been associated with early Granite intrusions and later hydrothermal fluids. Polymetallic mineralisation at Tidili is generally vein and hydrothermal, represented by pyrite, chalcopyrite, sphalerite, galena and malachite throughout. It is carried by rhyolites, andesites, ignimbrites, and granites as well as in certain sedimentary formations of the Precambrian age. Gold has been detected in surface geochemistry samples. Previous exploration Limited exploration has been conducted on the Tidili claims. The previous exploration includes soil sampling, some trenching and rock chip sampling. Previous exploration Limited exploration has been conducted on the Tidili claims. The previous exploration includes soil sampling, some trenching and rock chip sampling. 109 Stream samples were collected for analysis. Figures 8 and 9 exhibit the results of the copper and gold stream geochemistry. The geochemical analysis shows enrichment in base metals. Geochemical analyses of samples taken from mineralised structures in the Tidili showed the polymetallic character of this mineralisation. The increase in the copper content in the Tidili sector is accompanied by an increase in the percentage of lead. During the June Quarter the Company completed its maiden field work programme at the highly prospective Tidili Copper Project in Morocco. The maiden field work programme was designed to verify historical works and to undertake further mapping and sampling, laying the foundations for th