HIGHLIGHTS:
Steam Engine Gold Project
- Updated MRE completed, updating the 2022 MRE and incorporating investigative and Resource expansion drilling conducted during H2 CY2024.
- 3,000m RC drill program targeted for Q1 CY2026 (subject to weather), aimed at achieving resource expansion by testing at least 1.5km of mineralised structure along strike from the existing 1.5km Mineral Resource envelopes of the Steam Engine and Eastern Ridge lodes.
- Supportive coarse grind metallurgical test program results reported, augmenting existing data and supporting ongoing toll treatment discussions.
- Feasibility Study workstreams focused on a toll-treatment development pathway towards near-term gold production continued to progress.
Halls Reward & Telegraph Copper Prospects
- Design commenced on an RC and diamond drill program of up to 3,000m.
- The drill program will test surface mineralisation and geophysical targets including previously reported high-grade rock chip and mullock assays up to 46.50% Cu at Halls Reward and 10.99% Cu at Telegraph1, and includes a 1.5km × 0.5km high-order soil-copper anomaly that has never been drill-tested.
Corporate
- Binding commitments of $2.0 million for an equity placement received, supported by high networth, strategic and institutional investors, with GBA Capital acting as lead manager.
- Continued discussions with several large, well-funded third-party resources companies regarding potential joint arrangements for the Company’s Greenvale Project.
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