Glenburgh and Mt Egerton Development Projects

The Glenburgh – Mt Egerton advanced exploration / development project is located in the Gascoyne region, approximately 300km north of the Company’s flagship Dalgaranga operations. This project has the potential to become a second production hub for the Company. The Company intends to undertake additional drilling that is aimed at expanding the Mineral Resource with a view to conducting feasibility studies for a possible development of the project.

Glenburgh has a JORC 2012 Mineral Resource estimate of 16.3Mt at 1.0g/t for 510,100 ounces of gold contained in 11 separate deposits, 10 of which are located on a granted Mining Lease. The majority of the Mineral Resource is contained within the central and northeast zone deposits. Located on granted Mining Leases, several mining studies have been conducted, including metallurgical, geotechnical, processing plant conceptual design with an approved Mining Proposal, all of which would require updating prior to any development decision in the future.

Mt Egerton is approximately 180km east of Glenburgh and within economic haulage distance to supply high grade ore to a base load processing plant located at Glenburgh. Two known deposits exist at Mt Egerton including the Hibernian and Gaffney’s Find, both of which are located within granted Mining Leases. The Hibernian deposit was mined historically via a small underground operation. It is drilled to a depth of 110m in the eastern half and only 70m depth on the western half of the known mineralised extent.

Intersections at Hibernian include 14m @ 71.7g/t gold, 34m @ 14.8g/t gold, 8m @ 11.4g/t gold, 2m @ 147.0g/t gold and 5m @ 96.7g/t gold. The Hibernian shear zone extends for some 15km in length with very little effective exploration conducted including areas under 1-5m of transported cover. The company will be testing the strike length of the Hibernian and Gaffney’s Find trend during 2021.

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Gold does not rust. It is used in jewellery and electronics, sent to the moon and Mars in space travel and has remained a store of value for thousands of years. A valuable commodity.