Final ip results. drill ready at horn island.

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♦ Final merged data identifies multiple IP chargeability and resistivity target areas

♦

Horn Island is drill ready

♦

Increasing potential demonstrated for Horn Island to host multiple deposits

♦ IP chargeability high gradient, interpreted as mapping the hydrothermal system, which may

drive gold mineralisation

♦ The existing mineral resource area is defined by a chargeability high gradient and associated

resistivity low that is a key targeting tool

♦ Three broad IP target areas all associated with coincident surface gold or IRG pathfinder

enrichment:

 Jedha 1 (189 ha)

 Endor 1 (15 ha)

 Tatooine 1 (101 ha)

♦ Construction of the first drill pad to test the broad Jedha 1 target zone is underway

Exploration Manager, Adrian Hell said,

In 2016, the Company's exploration team and I first commenced mapping and rock

chip sampling programs across Horn Island. We have continued this body of work

with panning, rock chip and channel sampling. In 2018, we completed an aeromag

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program and successful shallow drill program at the Southern Silicified Ridge and

since that time, further sampling and IP surveys have been completed. This vast

body of work has fed into various studies, such as metal zonation, and have allowed

us to develop a geological model that suggests a large Intrusion Related Gold

"

System is present at Horn Island. These broad target zones at Horn Island present a

real and exciting opportunity for discovery.

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Figure 1.

Plan view of DDIP 3D inversion chargeability gradient (6 to 15ms) outline 3 broad target areas -

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♦ Characterised by high chargeability gradient and associated structurally controlled resistivity

low

♦ Target area trends for greater than 5kms covering a projected surface area of 188.5ha

remaining open to the NW

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♦ Displays a similar chargeability response to the Horn Island gold resource area but is

significantly larger in scale

♦

Jedha 1 anomaly deepens and significantly widens in a northerly direction as it extends SE

and has a northward trend of ~1.7kms towards the Horn Island gold resource

♦ Correlates with an extensive sericite altered and veined stockwork zone with an approximate

strike length of > 3.5 km that displays a consistent trend with the underlying chargeability

high/resistivity low anomaly

♦ Surface vein chip sampling (see Figures 1 & 2) above this anomaly reveals numerous high-

grade gold assays of >5 g/t Au including:

♦ 250.0 g/t, 50.5g/t, 19.6g/t, 18.2g/t, 17.5 g/t, 15.7g/t, 15.4g/t, 15.4 g/t, 13.2g/t, 11.9

g/t, 11.5 g/t, 10.4 g/t, 8.8 g/t, 8.4 g/t, 8.3 g/t, 7.9 g/t, 7.9 g/t, 7.8 g/t 6.5 g/t, 6.3

g/t, 5.9 g/t, & 5.2 g/t Au (see Figure 1 & 2) and channels samples including:

 4 m @ 4.20g/t Au incl.1 m @ 11.90 g/t Au

 4 m @ 1.89g/t Au incl. 1.0 m @ 4.08 g/t

 1.5 m @ 6.18 g/t Au incl. 0.5m @ 15.35 g/t and;

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 1 m @ 8.79 g/t Au

♦ Previous IRG metal zonation studies carried out by Alice Queen of surface soil and rock chip

Figure 2. The Jedha-1 chargeability anomaly fits within the Company's conceptual target depth window, that

may represent a zone of intensifying mineralisation and therefore be a strong indicator towards the source

useintrusion where higher-gradegold may develop. Image includes 2D INV CHG pseudo sections with 3D

isolines (ranging from 8 to 15 milliseconds) with previously reported high gold grade (>5g/t Au) rock chip

results

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Tatooine 1 Anomaly

♦ Originally identified from previous IP survey (refer to ASX release 20 April 2020) reprocessing

of the merged data has provided further definition of this prospective target area

♦ Characterised by high chargeability gradient with areas of interest concentrated along the

associated resistivity low trend

♦ Anomaly displays coincidental surface gold and projected IRG pathfinder enrichment patterns

♦ The Horn Island gold resource of ~.052M oz is hosted within this anomaly area that extends

along a NW-N trend for approximately 1.6kms

♦ South ward deepening plunge extending ~300m from the resource boundary

♦ Preliminary & broad spaced drilling to test a small part of this anomaly, outside the existing

resource envelope, returned positive gold assay intercept (see ASX release 30 June 2021,

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"Drilling Confirms New Broad Gold Zone at Horn Island) including:

♦ 5m @ 4.4 g/t Au from 128m (20NGD097) incl. 1m @ 12.3gt Au from 128m

♦ 1m @ 10.3 g/t Au from 138m (20NGDC098)

♦ 1m @ 11.3 g/t Au from 164m (20NGR098)

♦ 1m @ 12.4g/t Au from 244m (20NGD105)

♦ 2m @ 3.9 g/t Au from 355m (20NGD105) incl. 1m @ 5.4 g/t Au from 355m

♦ Potential for higher grade gold lodes as extensions from the Horn Island resource exist

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Endor 1 Anomaly

Tatooine 1 Anomaly

Figure 3. Conceptual 3D IRG metal zonation model outlining source intrusion driving potential gold deposits

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across the project area between Horn Island Resource and SSR prospect. DDIP CHG anomalies (approximate

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locations) correlate with the projected IRG pathfinder metal zoning target depths.