Lachlan Project

Breakfast Creek (Cu-Au)

Virtually unexplored 392km² EL

  • 55km south of Cadia Cu-Au porphyry (51Moz Au & 9.9Mt Cu)
  • Hosted in sub-cropping Molong Volcanic Belt, Macquarie Arc
  • Potential for high Cu/Au grade skarn and porphyry systems
  • e.g. Browns Creek 1.29Mt @ 6.39g/t Au, 0.45% Cu
  • Entire prospective belt currently held by majors and active juniors
  • Rare opportunity, unexplored in Australia’s premier Au-Cu belt

Balbardie Au-Cu Prospect

Exciting high-grade skarn/porphyry

  • Semi-coincident magnetic, IP chargeability and AEM conductivity
  • Widespread skarn-type hydrothermal alteration & gossans
  • Significant +6km Cu-Au +pathfinder soil anomaly
  • High-grade Cu-Au grab samples:
  • 3.4g/t Au & 1.1% Cu (BCR002)
  • 0.8g/t Au & 12.6% Cu (BCR001)
  • 0.5g/t Au & 18.5% Cu (BRC004)
  • 0.73g/t Au & 16.2% Cu (BCR011)
  • 0.52g/t Au & 17.8% Cu (BCR013)
  • Very limited drilling; Targets remain untested

Wilga (Au)

20km from +13Moz Cowal Au Mine

  • Strategically located 272km² Exploration Licence
  • Coincident Magnetics and K-Radiometric signatures
  • Prospective features similar to Cowal Igneous Complex
  • +4km Carbonate Base Metal (CBM) trend
  • No systematic exploration
  • Land access secured to previously unexplored Olaf’s Prospect

Olaf’s Prospect (Wilga)

Mineralisation at EL boundary

  • Significant drill results to south: 2.22m @ 7.64g/t Au from 34.25m inc. 0.3m @ 19.4g/t Au from 34.85m (DDH3)
  • Cu-Zn-Pb-As soil anomaly (open); nb. Cu-Pb pathfinders at Cowal
  • Highly anomalous rocks: 0.47% Cu, 0.33% Zn (1260); 1.32% Pb (788-4)
  • Limited drilling confirms base metals: 11.33m @ 2% Pb+Zn (ODH-1)
  • Epithermal quartz-carbonate-adularia alteration
  • Pyrite>sphalerite>galena>chalcopyrite veins

+13Moz Cowal Au Mine at same scale as Olaf’s Prospect

Prince of Wales (Au)

High-grade Au Targets

  • Historic 1.8km underground workings; 170m deep (POW: 26.6k oz Au @ 8.7g/t Au)
  • Shallow RAB only: 2m @ 5.98g/t Au from 32m to EOH (POW012)
  • Two gold trends (POW and Back Creek)
  • Magnetite destructive alteration (sericite-clay-qtz-carbonate-pyrite)
  • No previous systematic drill testing along 4km structure

Dunedoo (Au-Ag-Cu)

Not a single drillhole in +8km of Au anomalism

  • 65km from 491Moz Ag Eq Bowden’s Silver Mine
  • Interpreted prospective Macquarie Arc geology
  • Extensive alluvial gold (Tucklan alluvials); source not identified
  • +8km gold soil anomaly (>10ppb Au; max 182.5ppb Au)
  • Magnetite destructive acid alteration along structural trend
  • 5 targets (Tucklan, Hillside, Wattle Vale, Showgrounds & Belinda Vale)
  • Prospects remain untested by drilling

Belinda Vale Prospect » Porphyry Cu-Au Target

  • 450 x 300m high amplitude “bullseye” magnetic anomaly
  • Coincident Cu-Mo + pathfinder element soil anomaly
  • Previously misidentified high level alteration minerals
  • Propylitic altered (ep-chl-cb-alb-ser) andesitic volcaniclastics + hornblende-phyric diorite (fertile);
    Pyrophyllite altered basalt to west
  • Features are consistent with upper parts Cu-Au-Mo porphyry system

Temora South (Cu-Au)

Epithermal Au & Porphyry Cu-Au Target

  • 16 km from 1.4Moz Gidginbung HS Epithermal Au Mine
  • Prospective Late Ordovician to Early Silurian Volcanics
    (host to Gidginbung Mine and Temora Porphyry Cu-Au deposit)
  • Bounded by Gilmore Suture and second-order splay faults
    “Roadside” RAB hole: 4m @ 1.93g/t Au to EOH (95WRAC50)
  • Five targets identified

Wynds Rd Au Target

Underexplored outcropping gold system

  • Historic workings: +400m strike
  • Rock chips: 12.7g/t Au, 4.98g/t Au, 1.65g/t Au & 0.16% Cu
  • +2.5km strike of phyllic - argillic - advanced argillic alteration
  • Alteration assemblage consistent with root zone of lithocap
  • Qtz-carb-cpy-py veins
  • Untested linear magnetic highs (4 discrete “thumbprint” anomalies)
  • No previous systematic drill testing - No RC or DD testing

Brungle

Snowball Target (Porphyry Cu-Au)

  • Interpreted sub-cropping Macquarie Arc igneous complex 1.93g/t Au to EOH (95WRAC50)
  • 4.5 km x 2.0km ovoid shaped magnetic anomaly similar to Cadia
  • 1983 BHP Cu-Zn-Pb SSD anomaly shows classic porphyry zonation
    with proximal Cu and distal Zn anomalies
  • Porphyry alteration vectors inc. skarn, inner propylitic and potassic
  • No previous drill testing

Pine Mountain Target (Porhyry/Epithermal Au-Cu)​

  • Historical Grab samples inc. 8.43g/t Au (5049/18) & 1.37% Cu
  • Significant scale & tenor BHP Cu-Pb-Zn-As SSD anomalies
  • Interpreted Macquarie Arc magnetic stratigraphy
  • Granite porphyry observed with typical lithocap observations inc.
    stockwork barite veining, disseminated galena-fluorite, pyritic boxworks & qtz-tml veining
  • No previous drill testing

Bournewood (Cu-Au)

Favourable geology and erosional level

  • Rock chips to 13.3g/t Au (15605) and 5.7% Cu
  • Numerous historic Cu-Au workings
  • Devonian volcanics next to Devonian intrusions
  • Alteration vectors indicative of upper/outer LFB Cu-Au porphyry
    (phyllic/argillic, inner propylitic (act-ep-mt-sulphide), mt-skarn)
  • High grade Au-Cu-Mo-Bi surface geochemistry
  • No previous RC/DDH testing of copper soil anomaly

Darby’s Ridge (Cu-Au)

Big targets under moderate cover

  • 100% owned Project
  • Prospective Ordovician? - Silurian + Devonian metasediments and volcano-sedimentary rocks
  • Baseline datasets already acquired including: 50m aeromagnetics/radiometric surveys, dipole-dipole IP survey, World View satellite imagery
  • Previously funded by Newmont
  • Target type » Reduced Intrusion-related Cu-Au
  • Havieron Au-Cu deposit analogy
  • Similar geology, alteration, geochemistry & scale

Grassmere Prospect » Exciting Cu-Au Target

  • Large magnetic high complex
  • Fold nose structural setting
  • Semi coincident IP chargeability, conductivity & resistivity anomalies
  • Large >2km Au-Cu Aircore anomaly(max 0.22g/t Au, 914ppm Cu, +1171ppm As ±Zn ±Pb)
  • Only four RC/DH completed
  • Extensive reduced intrusion-related alteration (bt-act-po ±cpy ±sp ±ga) inc. intensity with depth
  • Several >600m diameter “bullseye” magnetic anomalies remain un-drill tested

Junee JV

Newmont JV (KNB 20% free carried interest)

Multiple Porphyry Cu/Au & Epithermal Au Targets

  • “Unusually fertile segment of Macquarie Arc” – Alan Wilson
  • “Intensity of porphyry-veining in first pass drilling superseded only by systematic exploration of the Cadia and Northparkes districts”
  • Multiple Targets; 4x alkalic porphyry systems identified
  • Extensive datasets and drilling completed (~$23.9M)
  • Shallow exploration for LFB, with systems exposed at/near surface
  • Project funded by Newmont with drilling planned

Allawah Prospect

Orogenic Au? (2.3Moz Tomingley-style)

  • 1.5km x 0.7km Au-As-Sb-Te-Bi-Cu soil anomaly (Max 3,420ppb Au)
  • Rock chips: 1.79g/t Au (SN9986) and 1.37g/t Au (SN9987)
  • Pervasive sericite-carbonate-quartz-chlorite-fuchsite alteration
  • Quartz-carbonate-pyrite-arsenopyrite veining and breccias
  • Single traverse of drilling returned significant intercepts:
    20m @ 1.15g/t Au from 52m inc. 4m @ 2.84g/t Au from 60m (JNRC025)
  • Largely untested IP Chargeability anomaly

Fairholme JV

Newmont Joint Venture (KNB 51% interest)

Porphyry Cu-Au Targets

  • Newmont may earn up to 80% by spending AUD$5M (at their discretion)
  • Immediately north of Kincora Copper Porphyry Cu-Au Gateway Prospect (123m @ 0.62g/t Au & 0.12% Cu)
  • Fairholme Igneous complex
  • Most underexplored igneous complex in Cowal region
  • Prospective Ordovician stratigraphy including Phase 4 high-level shoshonitic intrusives
    (known to host Cadia & Northparkes Mines)
  • Concealed below moderate cover (36m – 150m)
  • Arc parallel and cross-arc structures interpreted
  • Numerous Northparkes-style magnetic features (“doughnuts”)
    – one example at Figure on right
  • Anomalous Cu-Au in Aircore (>0.1g/t Au & >500ppm Cu)
  • Inner propylitic alteration assemblages (chl-mt-ep)
  • Northparkes-style Targets » Drilling planned
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