Copper – Lead – Zinc – Nickel
(100% AQD – Subject to Strategic Alliance Agreement with a subsidiary of South32 Limited)

Balladonia, Western Australia

The Project is located ~60km south of the Nova–Bollinger nickel-copper deposit and consists of nine Exploration Licences covering an area of ~840 km². Exploration by the Company has identified potential for BHT and IOCG style mineralisation similar to that found in north-west Queensland (Mt Isa Belt) and at Broken Hill (NSW), as well as nickel-copper deposits similar to the Nova Bollinger deposit.

The Project is located ~60km south of the Nova–Bollinger nickel-copper deposit and consists of nine Exploration Licences covering an area of ~840 km². Exploration by the Company has identified potential for BHT and IOCG style mineralisation similar to that found in north-west Queensland (Mt Isa Belt) and at Broken Hill (NSW), as well as nickel-copper deposits similar to the Nova Bollinger deposit.

The project occurs within a structurally complex region of the Fraser Range Terrane and is centred above a deep regional gravity anomaly (~50 milligals) thought to reflect buried mafic-ultramafic rocks similar to those that host the Nova-Bollinger deposit.

Drilling to date has confirmed the wide spread nature of potential BHT host stratigraphy, providing evidence for a district-scale opportunity.

During 2022-23 drilling outlined a potential ‘lode horizon’ at the Tea Tree prospect defined by elevated values of lead (Pb), zinc (Zn), cadmium (Cd) and tin (Sn) within a sequence containing quartz-garnet-magnetite (QGM) rocks. Anomalous phosphorous (P) with high iron (Fe) and/or manganese (Mn) values help to define the prospective stratigraphic package with potassic alteration reported in some drill-holes suggesting close proximity to BHT base metal mineralisation.

Iron Formations within the host stratigraphy are traceable for tens of kilometres north and south of the Tea Tree prospect, as well as being present at many other locations across the area, helping to focus the Company’s exploration efforts.

Detailed gravity surveys completed in 2022 and results from a VTEM survey completed in 2023 are being used to help outline base metal targets for further testing.

Drilling has also highlighted the potential for carbonatite-related mineralisation (base metals and/or rare earth elements – REEs) in the area. Carbonatite related rocks at the Telegraph and Halfway South prospects, plus elevated REEs within nearby drill-holes (eg WB08), support the possibility of carbonatite related mineralisation being found in the area.

The Company is encouraged by the results at Balladonia, which continue to suggest a highly prospective region for the discovery of large-scale base metal deposits as well as REE mineralisation. Further exploration is being planned in 2024 in consultation with South32.

This project is subject to the SAA with a subsidiary of South32 Limited

Revised 11/03/2024.

Magnetic & Gravity Targets

Tea Tree Prospect Drilling

VTEM Targets