Mt Rawdon West Project

Mt Rawdon West (Gold & Copper) - Queensland

In a snapshot

Project covers intersection of two major copper-gold mineral structures.
One Cu-Au-Mo soil anomaly (4km x 1.5km) has been determined at Baloo, at x10 background values.
Visual copper mineralisation at surface includes malachite, azurite, bornite, and chalcocite.
Surface chip samples up to 7.2% Copper and 12.4g/t Au.
The Company is exploring for a large new porphyry copper-gold system.
Not one drill hole on the project to date.

The Company owns 100% of the Mt Rawdon West Project located inland from Bundaberg in Queensland. The project consists of one granted 305km² tenement, which covers the intersection of the highly prospective Mt Rawdon gold corridor with the Mt Perry copper-gold corridor.

Location of the Mt Rawdon West Project, Queensland

Geo Chemistry

Surface geochemical programs have focussed on the main corridor between the two major mineral faults, Mt Rawdon and Mt Perry. The corridor between the faults is interpreted as a linking structure.

A soil program over the corridor, on a 400m x 100m spaced grid, has determined a 4km x 1.5km Cu-Au-Mo anomaly, at 10x background values, referred to as the Baloo target. Peak soil assay values returned 460ppb Au, 1.43g/t Ag, 781ppm Cu, & 13.4ppm Mo.

A total of 33 rock chip samples have been collected and assayed, across the corridor returning the following assay results:

1.3% Cu and 9.81g/t Ag (MRRK001)
1.1% Cu and 10.3g/t Ag (MRRK002)
0.22% Cu (MRRK004)
4.26g/t Au, 0.6% Cu, and 32.9g/t Ag (MRRK006)
12.4g/t Au, 2% Cu, 65.6g/t Ag, 0.87% Pb, and 0.13% Zn (MRRK007)
1.6% Cu and 7.64g/t Ag (MRRK008)
1.4% Cu, 8.96g/t Ag, and 0.64g/t Au (MRRK010)
2.5% Cu and 0.1% Zn (MRRK011)
3.3% Cu and 31.1g/t Ag (MRRK012)
4.2% Cu, 75.8g/t Ag, 1.16g/t Au, 1% Pb, and 0.3% Zn (MRRK014)
4.48% Cu and 83.7g/t Ag (MRRK015)
2.38% Cu, 22.3g/t Ag, and 0.48g/t Au (MRRK018)
7.2% Cu and 27.2g/t Ag (MRRK020)
3.45% Cu and 85.9g/t Ag (MRRK025)
0.99% Mo – Rock Chip sample of mullock pile at Historical Molybdenum Mine (MRRK003)
1.7% Cu, 17.6g/t Ag, 0.12% Pb, and 0.24% Zn (MRRK030)

*ASX Announcements 7^th September 2023 and 30^th October 2023.

The Mt Rawdon West Project, with major controlling mineral structures and Cu-Au-Mo soil anomalies.

Surface geochemical results at Baloo and Kaa prospects, including soil anomalies and rock chip results.

Mapping

The district has a rich mining history with significant gold, copper and molybdenum mines located on the tenement, which have laid dormant for the past 100 years.

Eight historical mines were located over a 7km wide corridor across the tenement, with malachite, azurite and bornite (copper mineralisation) observed in outcrop/subcrop and within the wall of old workings and waste piles.

Bornite is of considerable interest as it is a copper sulphide mineral often used as an indicator for its proximity to porphyry copper systems.

At Kaa, the old copper workings consist of three substantial adits that extend into a hill on the southern side, and two winzes’ (portals for hauling ore out of the mine to the surface), were found on the north-eastern side of Wonbah Hill.

The workings cover 370m of strike and 80m in elevation.

Visible copper mineralisation was observed at entries to the adits as well as at the ore passes.

Granodiorite was identified as the host rock, with varying levels of K-feldspar alteration from weak to intense, mapped in outcrop surrounding the historical mine.

Copper mineralisation appeared to be hosted within quartz veins in the form of 2-3 cm crystals of malachite, azurite and bornite.

No drilling has ever been completed at the prospect surrounding or underneath the old workings.