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Fourth Quarter Activities Report

  • July 29, 2022

SUMMARY

 • 2022 Bottletree drilling program commenced on 15 June 2022 with the collaring of the program’s first diamond core hole, BTDD005. 

• As at the publication date of this report, BTDD005 has progressed past the originally planned end-of-hole depth of 700m, due to the continuation of visible quartz-chalcopyrite sulphide mineralisation. 

• Hole BTDD004, drilled to 658.9m, returned impressive copper mineralisation within an overall 632m of mineralisation: 

            Overall Copper intersection: 

            • 632m @ 0.21% Cu, 0.03g/t Au, 0.60ppm Ag, 18.0ppm Mo from 5m below surface 

           Significant porphyry-style mineralisation: 

           • 224m @ 0.40% Cu, 0.05g/t Au, 0.90ppm Ag, 3.5ppm Mo from 242m, including: o 2m @ 1.01% Cu, 0.24g/t Au, 2.7ppm Ag, 9.5ppm Mo from 337m 

             o 103m @ 0.53% Cu, 0.05g/t Au, 1.4ppm Ag, 3.3ppm Mo from 363m 

             o 1m @ 5.25% Cu, 0.31g/t Au, 10.7g/t Ag, 1.5ppm Mo from 363m 

             o 12m @ 1.01% Cu, 0.07g/t Au, 2.2ppm Ag, 1.9ppm Mo from 363m 

             o 15m @ 1.19% Cu, 0.15g/t Au, 3.6ppm Ag, 1.9ppm Mo from 451m 

             o 3m @ 1.12% Cu, 0.14g/t Au, 4.8ppm Ag, 2.1ppm Mo from 631m. 

Cockie Creek Porphyry Copper Prospect (Greenvale) 

• Potential for significant porphyry Cu-Au mineralisation. 

• Current Mineral Resource Estimate: 13MT @ 0.42% Cu (JORC 2004), based on strike length of 1.2kms and down to approximately 300m depth1. Compiling Mineral Resource Estimation to comply with JORC, 2012. 

• Two large, intense IP chargeability targets at depth beneath the defined mineralisation. 

Steam Engine Gold Deposit (Greenvale) 

• 2021 resource drilling program results in a material upgrade to the Steam Engine Mineral Resource: 

Lower Grade SPQ Processing Plant Model (cut-off grade: 0.25 g/t Au): 

60.7% increase in total Measured, Indicated and Inferred Resource to: 4.18 Mt @ 1.5 g/t Au for 196,000 oz Au. 

High Grade Toll Treatment Model (cut-off grade: 1.0 g/t Au): 

40.2% increase in the total Measured, Indicated and Inferred Resource to: 

2.72 Mt @ 2.0 g/t Au for 171,000 oz Au 

 

Read the announcement

PrevPrevious2022 drilling program underway at Bottletree

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