G11 RESOURCES LIMITED — Capital/Financing Update 2024

Mar 13, 2024

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ASX / MEDIA RELEASE
3 December 2023
ASX / MEDIA RELEASE
14 March 2024
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Drilling to commence at the Wilandra Copper Project

Highlights

• RC Drill Rig has mobilised to site today for a planned 15 to 20 hole program for approximately 2,800 metres.

• Priority targets identified over 10km of strike, within the 30km VMS Copper Corridor, will now be drill tested.

• The priority targets all have geophysical anomalies with coincident anomalous soil geochemistry further supported by structural model developed over the past 12 months.

• Downhole EM survey will be completed in conjunction with the drilling program.

G11 Resources Limited (‘G11 Resources’, ‘G11’ or ‘the Company’) is pleased to announce that RC drill testing of identified anomalies will commence later this week, with the drill rig mobilised today.

This is the culmination of over 12 months work by the G11 Technical Team and Consultants utilising geophysics and geochemistry, along with detailed structural mapping to develop a geological and mineralisation model for the Wilandra Copper Corridor (Figure 2). This model has then been applied in the identification and prioritisation of numerous un-tested Volcanic Massive Sulphide (VMS) Cu-rich targets within the Corridor.

These higher priority targets cover a strike length of 7.5km, have never been drill tested and will be the focus of a 15-20 hole RC drill program for approximately 2,800m (Figure 1).

This program represents the logical next step in the Company’s goal of unlocking the mineralised potential of its significant landholding in the under-explored Koonenberry Belt.

The Company looks forward to updating the market on results from this drill program.

G11 Resources Limited ABN: 32 141 804 104 Level 21, 459 Collins Street, Melbourne, Vic 3000

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Figure 1 – G11 Resources VMS Cu targets, Area 1 within the Wilandra Copper Corridor[1,2]

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Figure 2 – Current refined geological and mineralisation model for the Wilandra Copper Corridor

1. See Odin Metal Ltd, ASX Announcements “District Scale Copper Project Acquisition”, 18 February 2021 and “Acquisition of Grasmere Copper Deposit”, 06 April 2021, for further information, Competent Person’s Consent, material assumptions, and technical parameters concerning historical work at the Koonenberry project. 2. The company confirms that it is not aware of any new information or data that materially affects the information included in this market announcement and that all material assumptions and technical parameters underpinning the estimates in this announcement continue to apply and have not materially changed.

ABOUT THE KOONENBERRY PROJECT

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The Koonenberry Project is an emerging, district scale, copper, nickel and other base metals exploration package located 80km east of Broken Hill, New South Wales. The Company considers the Koonenberry Belt to be highly prospective for a number of styles of mineralisation including VMS hosted Cu–Zn–Au–Ag deposits, magmatic Ni-Cu-PGE, epithermal Ag-Pb-Cu and orogenic Au. The Koonenberry Project covers 3,300km[2] of land holding, containing over 200km of strike of the significantly under-explored Koonenberry Belt (Figure 3).

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Figure 3 – Location and tectonic setting of G11 Resources Koonenberry Project (left) and the four main prospects within the Koonenberry Belt (right)

The Koonenberry Belt is a northern continuation of the Cambrian Delamerian Orogen, situated between the Curnamona Province to the west, and the Thomson Orogen to the east.

The Koonenberry Belt developed over several million years along the eastern margin of Australia during the continent’s breakup with Antarctica and the resulting formation of the Pacific Ocean. Since that time, the Belt has been subject to periods of uplift, sedimentation, and intense deformation. Today the Belt is expressed as a low range of hills comprised of shallow marine sediments, turbidites, & volcaniclastic sediments. These rocks have been variously intruded with tholeiitic basalts, gabbroic plutons, & felsic dykes. Adjacent granites and granitoids are associated with orogenic gold mineralisation.

The Belt is navigated it’s entire length by the Koonenberry Fault system. The Koonenberry Fault is a narrow, brittle, shear zone with numerous associated splays and faults. The diverse structural architecture of the Koonenberry Belt’s faults, folds, and shear zones has played a crucial role in the concentration and localization of mineralisation. These geological structures have acted as conduits for polymetallic mineralizing fluids and provided zones of enhanced permeability where metals could accumulate.

The Belt’s prospectivity for a range of metals including Copper, Nickel, Gold, & Silver, it’s geologic significance, and rich mineralogical diversity make the Koonenberry Belt a compelling region for modern explorers.

Competent Persons Statement:

The information in this report that relates to Exploration Targets and Exploration Results is an accurate representation of the available data and is based on information compiled by Mr Richard Buerger who is a Member of the AIG (6031). Mr Buerger is a Consultant to G11 Resources Limited. Mr Buerger has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (CP) as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC).

“Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Buerger consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Level 21, 459 Collins Street, Melbourne, Vic 3000

G11 Resources Limited ABN: 32 141 804 104

Table 1: G11 Resources Limited Tenements

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Below is a summary of the Company’s tenements as at the date of this announcement:

Tenement	Project	Location	Area	Structure
EL 8721	Koonenberry	NSW,Australia	119 BL	100%
EL 8722	Koonenberry	NSW,Australia	253 BL	100%
EL 8790	Koonenberry	NSW,Australia	200 BL	100%
EL 8791	Koonenberry	NSW,Australia	249 BL	100%
EL 8909	Koonenberry	NSW,Australia	9 BL	100%
EL 9289	Koonenberry	NSW,Australia	28 BL	100%
EL 9296	Koonenberry	NSW,Australia	19 BL	100%
EL 6400	Koonenberry	NSW,Australia	4 BL	100%
EL 9505	Koonenberry	NSW,Australia	110 BL	100%
EL 9543	Koonenberry	NSW,Australia	116 BL	100%
EL 9582	Koonenberry	NSW,Australia	25 BL	100%
EL 9584	Koonenberry	NSW,Australia	15 BL	100%

BL – Blocks. HA – Hectares. Km[2] – Kilometres squared

Photo of Wilandra Copper Corridor Looking North from Midpoint of Corridor

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For further information please contact info@G11Resources.com.au

ENDS

This ASX release was authorised by the Board of the Company.

G11 Resources Limited

ABN: 32 141 804 104

Level 21, 459 Collins Street, Melbourne, Vic 3000