Magnetite (Fe) – Nickel – Copper – PGE
(100% AQD – Subject to Strategic Alliance Agreement with a subsidiary of South32 Limited)

Morrisey Well, Western Australia

The Morrisey Project is located ~500km north of Perth WA within the Narryer Terrane, which became the focus of industry attention following the discovery of the Julimar nickel-copper-PGE deposit north of Perth by Chalice Mining.

The Morrisey project consists of four granted Exploration Licences (ELs) covering an area of ~1,000km².

First pass drilling of magnetic and/or EM targets intersected thick sections (>40m) of coarsely crystalline magnetite at both the Sandfly & Waterfall prospects.  Beneficiation test work (Davis Tube) produced a premium product (Fe >70%) with very low impurities from a relatively coarse grind size (<75 microns) highlighting the potential for possible magnetite resources in the area.

Gravity surveys were completed over six magnetite targets including Waterfall and Sandfly highlighting the potential for possible magnetite resources to be outlined in the area.

A drilling program at the Waterfall prospect has been designed to test the depth and continuity of magnetite mineralisation. Clearances have been obtained for drilling to commence in H1 2024.

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

Revised 11/03/2024.

Morrisey Well – Waterfall Prospect Drilling Program

Morrisey Well, South – Aeromagnetics showing targets

Morrisey Well, North – Aeromagnetics showing targets