Nymagee District Exploration Update

On 14 June, we were pleased to share further details of significant results from our recent exploration programs at the Federation deposit and Lancelot prospect in the Nymagee District.

We received final assays for diamond drill hole FDD215 at Federation, visual drill core of which was shared in April. These results confirmed a spectacular intercept and the potential discovery of a faulted northern offset to the Federation deposit and possibility this offset may provide a material extension of mineralisation to the west.

Results from a combined soil geochemical survey and auger drill program at Lancelot were also received. Combining these with promising geophysical survey results reported in January 2023, several highly prospective target areas have been defined for follow-up drill testing, planned for FY25.

Our Chief Development and Technical Officer, Andrew Graham commented.

“The drill core of Federation hole FDD215 is visually spectacular and the assay results confirm an outstanding intercept, even when considered relative to very high-grade holes into the Federation deposit.

What is more exciting is that this drilling points to a faulted offset of the deposit, some 140 metres to the north, with the potential to extend the Federation deposit materially to the west.

Additionally, the interpretation of soil auger work at the Lancelot prospect, combined with earlier geophysical results, has identified several exciting targets. These are planned to be drill tested during FY25.

Lancelot is a great example of our systematic and staged approach to exploration, with the results of low-cost surface soils supporting targeted geophysical surveys and then more detailed bottom-of-hole geochemical analysis. This approach allows the Company to cost-effectively work our premier landholding in the Cobar Basin.”

The full details of these results are available in the ASX Announcement: Federation Project Update.