Mt Freda Complex Project

Mt Freda Complex Project

Mt Freda highlights:

Gold & Cobalt RC drilling result highlights include:

  • MFRCD116A: 5m @ 7.53 g/t Au from 79m incl. 1m @ 29.30 g/t Au with 5m @ 483 ppm Co from 79m including 1m @ 1,118 ppm Co
  • MFRCD116: 7m @ 3.32 g/t Au from 78m with 3m @ 522 ppm Co (79-82m) incl. 1m @ 1020 ppm Co
  • MFRCD121 3m @ 8.4 g/t Au (170-173m) plus 3m @ 511 ppm Co (170-173m)
  • MFRCD129 3m @ 10.7 g/t Au (157-160 m) including 1m @ 26.10 g/t Au (158-159m) plus Cobalt 3m @ 625 ppm Co (157-160m) including 1m @ 1,130 ppm Co (158 -159m)

MFRCD128 1m @ 4.36 g/t Au (136 – 137 m) plus Cobalt 1m @ 656 ppm Co (136-137m)

Figure 1. Cross section through Mt Freda drill holes MFRCD116 & MFRCD116A intersecting high grade gold and cobalt (Refer ASX release 29th November 2017)

Canteen – Evening Star (Mt Freda South) highlights:

HIGH GRADE COBALT, COPPER & GOLD MINERALISATION DISCOVERED FROM SURFACE

HIGHLIGHTS

Cobalt mineralisation returning up to 2,030 ppm Co identified over ~1km mineralised shear zone within Mt Freda Mine Leases. (Refer ASX release 6th December 2017)

Discovery of ~12m outcropping high grade cobalt, copper and gold mineralisation within the Mt Freda Leases with rock chips returning up to:

  • Cobalt 1,610 ppm Co
  • Copper 32.70% Cu
  • Gold 33.40 g/t Au

RC Drilling near the new high-grade discovery returned very high cobalt results including:

  • ESRC02 1m @ 2,030 ppm within 6m @ 1,108 ppm cobalt from 0-6m
  • ESRC03 4m @ 1,190 ppm Cobalt from 4 – 8m
  • ESRC05 3m @ 1,380 ppm Cobalt from 11 -14m
  • ESRC08 9m @ 400 ppm Co, 1.01 g/t Gold, and 3.16% copper

Figure 2. Samples of Cobalt (1,610 ppm), Cooper (32.7%) & Gold (33.4g/t) ore from the new discovery.

Figure 3. High grade Cobalt drill hole results and rock chip assays identified along the ~1km cobalt- copper-gold mineralised shear zone.

Sub Audio Magnetics (SAM) survey identifies multiple drill targets at Mt Freda Complex

(Refer ASX release 16 May 2018)

  • Sub Audio Magnetic (SAM) survey identified multiple conductive structures and targets along ~ 2km strike
  • Conductive Targets mirror high grade out cropping gold and copper identified in the field
  • Additional EM targets along 2km north-south strike
  • Maiden RAB drilling returned 8m @ 3.5g/t from surface on EM target
  • Multiple high-grade drill targets
  • Potential for multiple “repeats” of the Mt Freda Open Cut along a 2km strike length
  • “Mt Freda is a big mineralised complex with big drill ready targets”

Figure 4. SAM geophysical result describing a ~ 2km conductive structure extending from the Mt Freda Open cut that correlates to high grade gold and copper identified on the surface. Additional EM targets were identified that further correlate to high grade copper and gold on surface including RAB drilling results of up to 8m @ 3.5g/t Au (Refer ASX announcement 29 November 2017).