Turon Gold Project: 17 August 2020

• Diamond drill program commenced to test the Company’s exciting shallow gold targets at the Turon Project in the Lachlan Fold Belt 

• The program will test defined targets:

  • RAB drill hole results up to 10m @ 1.64g/t gold from surface to end of hole which have never been followed up at the Quartz Ridge Mine 

  • Multiple high-grade rock chips up to 1,535g/t gold at the Dead Horse Reef Mine 

  • DGPR anomalies at former gold producing Britannia Mine 

The Turon Project lies within the Lachlan Fold Belt’s Hill End Trough, a north-trending elongated pull-apart basin containing sedimentary and volcanic rocks of Silurian and Devonian age.

The diamond drill program will test several exciting shallow gold targets situated within the Box Ridge and Quartz Ridge line of workings which strike over 2.4km and 1.6km respectively. These targets were detailed in the Company’s previous ASX announcements dated 23 June and 26 June 2020 and include:

• The northern extension of the Quartz Ridge Mine where a shallow RAB drill program completed nearly 30 years ago identified several highly anomalous gold intercepts with results up to 10m @ 1.64g/t gold from the surface to end of hole. All holes were sampled throughout their developed length as a single composite sample of 10m and the anomalous results were never followed up.

• The Dead Horse Reef Mine where past explorers report numerous significant gold grades from chip and mullock sampling, including 1,535g/t, 135g/t, 26g/t, 14.6g/t and 12.55g/t. The outstanding chip result of 1,535g/t gold lies south of Dead Horse Reef and remains untested by drilling.

• The Britannia Mine where DGPR interpretation identified two critical anomalies thought to coincide with structurally-controlled quartz veining. Their relative depth distinguishes the anomalies with a shallower anomaly that directly corresponds with the historic Britannia Mine workings, and a deeper anomaly offset from the known mineralisation which remains untested.

The program is expected to take approximately 3 weeks with assays to follow a further 2-3 weeks later.