Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

GATEWAY MINING LIMITED Capital/Financing Update 2020

Mar 3, 2020

64999_rns_2020-03-03_daf5c981-64cf-4b0d-ad7e-5e621465c33a.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

ABN: 31 008 402 391 Level 11, 52 Phillips Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 Tel: 61 2 8316 3998 Fax: 61 2 8316 3999 Website: www.gatewaymining.com.au ASX Announcement: 4 March 2020

==> picture [146 x 89] intentionally omitted <==

MAJOR NEW GOLD CORRIDORS IDENTIFIED AT GIDGEE FOLLOWING NEW DRILL RESULTS AND REGIONAL REVIEW

Outstanding high-grade aircore results of up to 5m at 10.4g/t Au combined with regional review outlines significant new discovery opportunity outside the Montague Granodiorite

HIGHLIGHTS

  • A regional assessment outside the key contact of the Montague Granodiorite, supported by reconnaissance aircore drilling, has identified a series of highly prospective gold corridors that present a major opportunity for new discoveries, particularly shallow oxide gold deposits.

  • The four gold corridors, as currently defined, cover a cumulative strike length of approximately 20km, opening up a major new exploration opportunity for Gateway within its high-quality Gidgee Gold Project outside of the currently defined resources.

  • The Flametree Prospect is part of an interpreted ~8km long gold-base metal corridor[1] that has demonstrated potential for near-surface oxide gold[2] . A recent regional aircore drilling program has intersected significant shallow oxide gold mineralisation which remains open in all directions, within this broader trend. Key results include (see Appendix 1):

  • GWAC0267: 5 metres @ 10.4g/t Au from 52 metres

  • GWAC0256: 4 metres @ 3.8g/t Au from 20 metresGWAC0257: 9 metres @ 1.1g/t Au from 17 metresGWAC0247: 5 metres @ 3.8g/t Au from 23 metresGWAC0246: 3 metres @ 3.5g/t Au from 44 metresGWAC0243: 17 metres @ 0.8g/t Au from 69 metres, including 11 metres @ 1.0g/t AuGWAC0236: 5 metres @ 1.9g/t Au from 39 metres

  • The 100m by 100m spaced aircore drilling significantly extends the mineralisation defined by previous reverse circulation drilling. The key RC drilling results include (see ASX release 8 April 2019):

VCRC0001 7 metres @ 5.0g/t Au from 29 metresVRC031 5 metres @ 7.0g/t Au from 31 metresVRC048 4 metres @ 4.0g/t Au from 30 metres*VRC068 6 metres @ 6.3g/t Au from 40 metresVRC034 5 metres @ 3.4g/t Au from 33 metresVRC072 1 metre @ 22.5g/t Au from 26 metres*VRC025 13 metres @ 1.8g/t Au from 67 metresVRC003 4 metres @ 7.1g/t Au from 20 metres (Historical drilling results[3] )*

  • Aircore drilling to test a coincident gravity-magnetic target at the Ashes Prospect has intersected ferruginous quartz veining in sandstones, with anomalous results including:GWAC0214: 8 metres @ 0.7g/t Au from 24 metres (includes 4 metres @ 1.2g/t Au)

  • An additional aim of the drilling program was to confirm the free-milling nature of the oxide gold within these trends. Leachwell analysis of the mineralisation has confirmed the cyanide extractability of the oxide mineralisation.

1 Also refer to ASX announcement 17th October 2018: Large-scale Volcanic Hosted Massive Sulphide (“VHMS”) Copper-Zinc Potential Identified at Gidgee.

2 Also refer to ASX announcement 8th April 2019: 1 Kilometre Long Oxide Gold Mineralised Zone Confirmed at Gidgee Gold Project.

3 Also refer to ASX announcement 8th April 2019: 1 Kilometre Long Oxide Gold Mineralised Zone Confirmed at Gidgee Gold Project

Gateway Mining Limited (ASX: GML) ( Gateway or Company ) is pleased to advise that it has identified extensive new regional gold corridors outside of the main gold trend at its flagship 100%-owned Gidgee Gold Project in Western Australia (Figure 1).

The results from recently completed regional aircore ( AC ) drilling traverses from various strategic targets within the broader Project, combined with an important regional assessment and geological review, has opened up a significant new exploration and discovery opportunity for the Company outside of the currently defined resources.

==> picture [420 x 316] intentionally omitted <==

Figure (1): Gidgee Gold Project Location Plan

The AC drilling program was designed to test a number of prospective targets away from the primary Montague Granodiorite intrusion and its associated mineralisation. While the highly mineralised margins of the granodiorite margin remain a priority focus for upcoming programs of exploration and resource extension, the Company is also committed to systematically evaluating the potential of the wider Gidgee Gold Project.

Evaluation of previous exploration data has identified a series of large-scale mineralised corridors defined by shallow, wide-spaced drilling. A series of key geophysical features have been observed in regional magnetic and gravity data within these corridors that required either additional drilling or a first-pass test.

KEY POINTS Flametree Aircore Drilling

  • A total of 54 holes for 3,748m of AC drilling were completed to systematically extend a zone of near-surface oxide gold mineralisation intersected in previous RAB and RC drilling (Figure 2). Gateway previously completed a single RC drill hole at Flametree to collect samples that confirmed the free-milling nature of the oxide gold in this location (see ASX Release 8 April 2019).

  • The 100m by 100m spaced drilling was designed to systematically confirm and extend this zone of near- surface, supergene gold mineralisation. This oxide mineralisation is interpreted to represent a gold “cap” which is spatially associated with an extensive Volcanic Hosted Massive Sulphide copper-zinc-gold mineralised system.

2

  • Drilling successfully intersected two flat-lying zones of mineralisation which appear to be supergene in nature. Both zones are located at oxidation interfaces within the weathered profile (Figures 3 and 4). Significant intersections include (see Appendix 1 for details):

  • GWAC0267: 5 metres @ 10.4g/t Au from 52 metres

  • GWAC0256: 4 metres @ 3.8g/t Au from 20 metresGWAC0257: 9 metres @ 1.1g/t Au from 17 metresGWAC0247: 5 metres @ 3.8g/t Au from 23 metresGWAC0246: 3 metres @ 3.5g/t Au from 44 metresGWAC0243: 17 metres @ 0.8g/t Au from 69 metres, including 11 metres @ 1.0g/t AuGWAC0236: 5 metres @ 1.9g/t Au from 39 metres

• This drilling significantly extends the mineralisation defined by reverse circulation drilling in previous programs. The key historical RC drilling results at Flametree include (see ASX Release 8 April 2019):

  • VCRC0001 7 metres @ 5.0g/t Au from 29 metres*

  • VRC031 5 metres @ 7.0g/t Au from 31 metresVRC048 4 metres @ 4.0g/t Au from 30 metresVRC068 6 metres @ 6.3g/t Au from 40 metres*VRC034 5 metres @ 3.4g/t Au from 33 metresVRC072 1 metre @ 22.5g/t Au from 26 metresVRC025 13 metres @ 1.8g/t Au from 67 metresVRC003 4 metres @ 7.1g/t Au from 20 metres (*Historical drilling results[4] )

  • Drilling intersected a fine grained sedimentary sequence, with frequent zones of ferruginous quartz veining. These intersections also coincide with a circular gravity-low feature, which is interpreted to potentially represent a significant alteration halo or buried granitic intrusion within the host sedimentary units.

  • Subsequent Leachwell analysis of selected intervals from the weathered profile have confirmed that the oxide mineralisation is readily extracted by cyanide, with calculated extraction reflecting fire assay grades. The two techniques returned a correlation coefficient of 0.996 (see Graph 1). Fire assay versus Leachwell assay results are presented in Table 2.

  • This drilling now forms part of a clear gold trend that includes the historical Embers and Julia’s Prospects, which extend over a strike length of over 5.5km (Figure 5). Previously reported historical intersections from these prospects include (see ASX Release 17 October 2018):

GRC196: 14 metres @ 2.9g/t Au from 67 metresVRC084: 2 metres @ 6.5g/t Au from 13 metresVRC062: 7 metres @ 2.9g/t Au from 44 metres*GRC180: 33 metres @ 1.1g/t Au from 57 metresVRC041: 17 metres @ 1.0g/t Au from 20 metres3270/2900: 9 metres @ 1.5g/t Au from 24 metres (Historical drilling results[5] )**

  • Mineralisation north of Julia’s has not been explored along strike through the Claret prospect area, due to historic tenement boundaries that have now been resolved.

  • This work at Flametree has clearly confirmed the prospectivity of this overall trend, and the inadequacy of historical RAB drilling in testing these geochemical oxide trends.

  • Additional aircore drilling will be planned to continue testing the potential of this system.

4 Also refer to ASX announcement 8th April 2019: 1 Kilometre Long Oxide Gold Mineralised Zone Confirmed at Gidgee Gold Project

5 Also refer to ASX announcement 17 October 2018: Large-Scale VHMS potential identified at Gidgee Project

3

Regional Aircore Drilling

  • A total of 36 holes for 1,141m of AC drilling were completed at a series of locations designed to provide geological information to assist with the ongoing interpretation of regional geophysical datasets and thus inform the generation of exploration targets at the Gidgee Gold Project (Figure 2).

  • At the Ashes Prospect, wide-spaced AC drilling tested a coincident gravity-magnetic target within a 2.5km structural corridor. The drilling has intersected shallow mineralisation associated with ferruginous quartz veining in sandstones in bottom-of-hole samples. Highly anomalous results returned included:

GWAC0214: 8 metres @ 0.7g/t Au from 24 metres (including 4 metres @ 1.2g/t Au)

  • A new target located to the north of the Whistler Gold Deposit that was generated from high quality gravity data was tested with a single traverse of AC drilling. Modelling of the gravity data in this position had suggested the presence of a granotoid intrusion that could focus gold mineralising processes. The shallow drilling successfully intersected a felsic intrusion within a package of felsic volcanic rocks. This result is considered important as it provides confidence in utilising gravity as a core targeting dataset.

  • Two traverses of shallow aircore drilling were completed to the east of Whistler to locate the contact of the Montague Granodiorite. The contact position was defined, but not intersected due to the wide-spaced nature of the drilling. No significant results were returned.

MANAGEMENT COMMENT

Gateway’s Managing Director, Mr Peter Langworthy, said the results from strategic regional aircore drilling at Gidgee combined with a major regional geological review of the wider Project had delivered a number of important outcomes.

“While our core strategic focus remains to unlock the significant potential that exists around the margin of the Montague Granodiorite and along strike from the existing Resources, we also see outstanding potential to make new discoveries outside of the main mineralised contact.

“The outcomes of the aircore program and our recent regional work has vindicated this belief and highlighted the enormous opportunity to make major new discoveries in completely new areas. This supports our view that the Gidgee Project forms part of a major gold system and we are now developing a broader pipeline of targets with the potential to deliver a quantum increase in our overall Resource position.

“We are very pleased with the results of this aircore program. The results confirm the potential for a major shallow oxide gold system within a series of major structural corridors that have not really ever been systematically tested.

“This presents an outstanding shallow target for cost-effective aircore drilling, which we are planning to resume in parallel with an ongoing process of target ranking and evaluation that will underpin our broader exploration programs for the rest of this year. We look forward to presenting the full results of this work in the near future.”

4

==> picture [482 x 664] intentionally omitted <==

Figure (2): Gidgee Gold Project aircore drilling hole locations

5

==> picture [511 x 210] intentionally omitted <==

Figure (3): Flametree aircore drilling cross section 6,968,050mN

==> picture [511 x 210] intentionally omitted <==

Figure (4): Flametree aircore drilling cross section 6,968,250mN

6

==> picture [482 x 666] intentionally omitted <==

Figure (5): Flametree regional aircore drill plan maximum downhole Au intersections, showing +5.5km corridor of potential oxide zone Au mineralisation including the historic Julia’s and Embers prospects

7

Flametree Aircore Drilling

Fire Assay vs Leachwell (All Samples)

==> picture [486 x 305] intentionally omitted <==

----- Start of picture text -----

16
14
12
10
8
6
4
2
0
0 2 4 6 8 10 12 14
-2
Leachwell (Au ppm)
Fire Assay (Au ppm)
----- End of picture text -----

Graph (1): Flametree aircore original 50g Fire Assay vs 500g Leachwell analysis

Authorised by: Peter Langworthy Managing Director

For and on behalf of GATEWAY MINING LIMITED

Competent Person Statement

The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Mr Peter Langworthy who is a full-time employee of Gateway Mining Ltd and is a current Member of the Australian Institute of Mining and Metallurgy. Mr Peter Langworthy has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Langworthy consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Investors Media Peter Langworthy Nicholas Read Managing Director Read Corporate T: 02 8316 3998 T: 08 9388 1474

or

Kar Chua Company Secretary T: 02 8316 3998

8

TABLE (1): GIDGEE REGIONAL AC DRILLING INTERCEPT TABLE

Prospect Hole ID Hole
Type
MGA_E MGA_N RL Dip Azi EOH
(m)
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Summary
E57/793 GWAC0181 AC 752497 6970353 500 -60 270 48 - - - - NSA
E57/793 GWAC0182 AC 752703 6970348 500 -60 270 56 - - - - NSA
E57/793 GWAC0183 AC 752901 6970348 500 -60 270 41 - - - - NSA
E57/793 GWAC0184 AC 753099 6970349 500 -60 270 21 - - - - NSA
E57/793 GWAC0185 AC 753299 6970349 500 -60 270 26 - - - - NSA
E57/793 GWAC0186 AC 752989 6970350 500 -60 270 33 - - - - NSA
E57/793 GWAC0187 AC 752801 6970350 500 -60 270 42 - - - - NSA
E57/793 GWAC0188 AC 753045 6966950 500 -60 270 11 - - - - NSA
E57/793 GWAC0189 AC 753098 6966951 500 -60 270 6 - - - - NSA
E57/793 GWAC0190 AC 753148 6966951 500 -60 270 13 - - - - NSA
E57/793 GWAC0191 AC 753197 6966953 500 -60 270 7 - - - - NSA
E57/793 GWAC0192 AC 753249 6966950 500 -60 270 8 - - - - NSA
E57/793 GWAC0193 AC 753299 6966949 500 -60 270 5 - - - - NSA
E57/793 GWAC0194 AC 753349 6966950 500 -60 270 13 - - - - NSA
E57/793 GWAC0195 AC 753399 6966948 500 -60 270 6 - - - - NSA
E57/793 GWAC0196 AC 753449 6966950 500 -60 270 16 - - - - NSA
E57/793 GWAC0197 AC 753000 6967300 500 -60 270 12 - - - - NSA
E57/793 GWAC0198 AC 753100 6967300 500 -60 270 16 - - - - NSA
E57/793 GWAC0199 AC 753150 6967301 500 -60 270 3 - - - - NSA
E57/793 GWAC0200 AC 753200 6967300 500 -60 270 9 - - - - NSA
E57/793 GWAC0201 AC 753251 6967301 500 -60 270 5 - - - - NSA
E57/793 GWAC0202 AC 753300 6967300 500 -60 270 28 - - - - NSA
E57/793 GWAC0203 AC 753348 6967298 500 -60 270 40 - - - - NSA
E57/793 GWAC0204 AC 753400 6967301 500 -60 270 49 - - - - NSA
E57/688 GWAC0205 AC 748000 6962700 500 -60 270 68 - - - - NSA
E57/688 GWAC0206 AC 748104 6962696 500 -60 270 63 - - - - NSA
E57/688 GWAC0207 AC 748200 6962700 500 -60 270 57 - - - - NSA
E57/688 GWAC0208 AC 748300 6962700 500 -60 270 63 - - - - NSA
E57/688 GWAC0209 AC 748000 6962800 500 -60 270 59 - - - - NSA
E57/688 GWAC0210 AC 748100 6962800 500 -60 270 60 - - - - NSA
E57/688 GWAC0211 AC 748199 6962800 500 -60 270 36 - - - - NSA
E57/688 GWAC0212 AC 748293 6962799 500 -60 270 54 - - - - NSA
E57/688 GWAC0213 AC 748001 6962894 500 -60 270 37 - - - - NSA
E57/688 GWAC0214 AC 748102 6962897 500 -60 270 32 24 32 8 0.7 8 metres @ 0.7g/t Au from 24 metres to
EOH
including 4 metres @ 1.2g/t Au from 28
metres to EOH
E57/688 GWAC0215 AC 748200 6962900 500 -60 270 45 44 45 1 0.4 1 metre @ 0.4g/t Au from 44 metres to
EOH
E57/688 GWAC0216 AC 748300 6962897 500 -60 270 53 - - - - NSA
Flametree GWAC0217 AC 747117 6967856 500 -90 0 95 - - - - NSA
Flametree GWAC0218 AC 747203 6967847 500 -90 0 72 - - - - NSA
Flametree GWAC0219 AC 747306 6967845 500 -90 0 71 - - - - NSA
Flametree GWAC0220 AC 747400 6967850 500 -90 0 83 27 30 3 0.3 3 metres @ 0.3g/t Au from 27 metres

9

Prospect Hole ID Hole
Type
MGA_E MGA_N RL Dip Azi EOH
(m)
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Summary
Flametree GWAC0221 AC 747500 6967850 500 -90 0 47 - - - - NSA
Flametree GWAC0222 AC 747601 6967855 500 -90 0 44 20 25 5 0.6 5 metres @ 0.6g/t Au from 20 metres
Flametree GWAC0223 AC 747702 6967856 500 -90 0 47 - - - - NSA
Flametree GWAC0224 AC 747799 6967850 500 -90 0 68 - - - - NSA
Flametree GWAC0225 AC 747898 6967853 500 -90 0 79 74 77 3 0.3 3 metres @ 0.3g/t Au from 74 metres
Flametree GWAC0226 AC 748000 6967851 500 -90 0 46 43 44 1 0.6 1 metre @ 0.6g/t Au from 43 metres
Flametree GWAC0227 AC 748101 6967850 500 -90 0 74 59 61 2 0.5 2 metres @ 0.5g/t Au from 59 metres
Flametree GWAC0228 AC 747100 6967950 500 -90 0 48 31 32 1 2.6 1 metre @ 2.6 g/t Au from 31 metres
Flametree GWAC0229 AC 747200 6967950 500 -90 0 84 44 45 1 0.4 1 metre @ 0.4g/t Au from 44 metres
Flametree GWAC0230 AC 747301 6967950 500 -90 0 77 75 77 2 0.3 2 metres @ 0.3g/t Au from 75 metres to
EOH
Flametree GWAC0231 AC 747400 6967953 500 -90 0 45 - - - - NSA
Flametree GWAC0232 AC 747501 6967951 500 -90 0 77 - - - - NSA
Flametree GWAC0233 AC 747600 6967947 500 -90 0 54 - - - - NSA
Flametree GWAC0234 AC 747700 6967950 500 -90 0 77 - - - - NSA
Flametree GWAC0235 AC 747795 6967950 500 -90 0 104 28 29 1 0.4 1 metre @ 0.4g/t Au from 28 metres
Flametree GWAC0236 AC 747901 6967955 500 -90 0 53 30 31 1 0.4 1 metre @ 0.4g/t Au from 30 metres
39 44 5 1.9 5 metres @ 1.9g/t Au from 39 metres
Flametree GWAC0237 AC 747999 6967950 500 -90 0 58 57 58 1 0.5 1 metre @ 0.5g/t Au from 57 metres to
EOH
Flametree GWAC0238 AC 748100 6967950 500 -90 0 89 68 69 1 0.4 1 metre @ 0.4g/t Au from 68 metres
Flametree GWAC0239 AC 747100 6968050 500 -90 0 46 - - - - NSA
Flametree GWAC0240 AC 747200 6968050 500 -90 0 33 32 33 1 0.4 1 metre @ 0.4g/t Au from 32 metres to
EOH
Flametree GWAC0241 AC 747300 6968050 500 -90 0 42 - - - - NSA
Flametree GWAC0242 AC 747400 6968050 500 -90 0 90 78 84 6 0.5 6 metres @ 0.5g/t Au from 78 metres
Flametree GWAC0243 AC 747500 6968050 500 -90 0 93 17 19 2 0.5 2 metres @ 0.5g/t Au from 17 metres
63 65 2 0.3 2 metres @ 0.3g/t Au from 63 metres
69 86 17 0.8 17 metres @ 0.8g/t Au from 69 metres
including 11 metres @ 1.0g/t Au
Flametree GWAC0244 AC 747594 6968048 500 -90 0 107 53 59 6 0.4 6 metres @ 0.4g/t Au from 53 metres
Flametree GWAC0245 AC 747697 6968050 500 -90 0 92 41 46 5 0.7 5 metres @ 0.7g/t Au from 41 metres
Flametree GWAC0246 AC 747801 6968050 500 -90 0 60 44 47 3 3.5 3 metres @ 3.5g/t Au from 44 metres
Flametree GWAC0247 AC 747901 6968050 500 -90 0 83 23 28 5 3.8 5 metres @ 3.8g/t Au from 23 metres
56 57 1 1.3 1 metre @ 1.3g/t Au from 56 metres
Flametree GWAC0248 AC 748001 6968050 500 -90 0 52 - - - - NSA
Flametree GWAC0249 AC 748099 6968050 500 -90 0 77 71 76 5 0.3 5 metres @ 0.3g/t Au from 71 metres
Flametree GWAC0250 AC 747100 698150 500 -90 0 51 48 51 3 0.5 3 metres @ 0.5g/t Au from 48 metres to
EOH
Flametree GWAC0251 AC 747200 6968150 500 -90 0 78 35 39 4 0.3 4 metres @ 0.3g/t Au from 35 metres
49 50 1 0.6 1 metre @ 0.6g/t Au from 49 metres
73 78 5 0.4 5 metres @ 0.4g/t Au from 74 metres to
EOH
Flametree GWAC0252 AC 747300 6968150 500 -90 0 51 - - - - NSA
Flametree GWAC0253 AC 747400 6968150 500 -90 0 77 - - - - NSA
Flametree GWAC0254 AC 747500 6968150 500 -90 0 65 43 45 2 0.9 2 metres @ 0.9g/t Au from 43 metres
52 53 1 1.2 1 metre @ 1.2g/t Au from 52 metres

10

Prospect Hole ID Hole
Type
MGA_E MGA_N RL Dip Azi EOH
(m)
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Summary
Flametree GWAC0255 AC 747600 6968150 500 -90 0 92 - - - - NSA
Flametree GWAC0256 AC 747699 6968166 500 -90 0 85 20 24 4 3.8 4 metres @ 3.8g/t Au from 20 metres
Flametree GWAC0257 AC 747800 6968150 500 -90 0 83 17 26 9 1.1 9 metres @ 1.1g/t Au from 17 metres
33 34 1 0.5 1 metre @ 0.5g/t Au from 33 metres
74 78 4 0.4 4 metres @ 0.4g/t Au from 74 metres
Flametree GWAC0258 AC 747900 6968150 500 -90 0 65 28 30 2 0.4 2 metres @ 0.4g/t Au from 28 metres
Flametree GWAC0259 AC 748000 6968150 500 -90 0 95 - - - - NSA
Flametree GWAC0260 AC 748100 6968150 500 -90 0 86 32 33 1 0.5 1 metre @ 0.5g/t Au from 32 metres
78 80 2 2.2 2 metres @ 2.2g/t Au from 78 metres
Flametree GWAC0261 AC 747100 6968250 500 -90 0 59 52 56 4 0.4 4 metres @ 0.4g/t Au from 52 metres
Flametree GWAC0262 AC 747200 6968250 500 -90 0 33 22 23 1 1 1 metre @ 1.0g/t Au from 22 metres
Flametree GWAC0263 AC 747300 6968250 500 -90 0 47 - - - - NSA
Flametree GWAC0264 AC 747400 6968250 500 -90 0 59 45 46 1 0.4 1 metre @ 0.4g/t Au from 45 metres
Flametree GWAC0265 AC 747500 6968250 500 -90 0 93 - - - - NSA
Flametree GWAC0266 AC 747600 6968250 500 -90 0 71 9 12 3 0.5 3 metres @ 0.5g/t Au from 9 metres
54 56 2 0.4 2 metres @ 0.4g/t Au from 54 metres
Flametree GWAC0267 AC 747700 6968250 500 -90 0 98 52 57 5 10.4 5 metres @ 10.4g/t Au from 52 metres
Flametree GWAC0268 AC 747800 6968250 500 -90 0 80 74 76 2 0.3 2 metres @ 0.3g/t Au from 74 metres
Flametree GWAC0269 AC 747900 6968250 500 -90 0 71 - - - - NSA
Flametree GWAC0270 AC 748000 6968250 500 -90 0 71 - - - - NSA
Flametree GWAC0271 AC 748100 6968250 500 -90 0 56 - - - - NSA
E57/1004 GWAC0272 AC 746500 6974000 500 -60 270 75 - - - - NSA
E57/1004 GWAC0273 AC 746700 6974000 500 -60 270 97 - - - - NSA
E57/1004 GWAC0274 AC 746900 6974000 500 -60 270 101 - - - - NSA
E57/1004 GWAC0275 AC 747093 6974006 500 -60 270 98 - - - - NSA
E57/1004 GWAC0276 AC 747299 6974000 500 -60 270 87 - - - - NSA
E57/1004 GWAC0277 AC 747500 6974000 500 -60 270 56 - - - - NSA
E57/1004 GWAC0278 AC 747700 6974000 500 -60 270 54 - - - - NSA
E57/1004 GWAC0279 AC 747900 6974000 500 -60 270 113 - - - - NSA
E57/1004 GWAC0280 AC 746791 6973995 500 -60 270 89 - - - - NSA

Notes:

  • All coordinates located in MGA (GDA94) Zone 50. Azimuth is magnetic degrees

  • RL’s are nominal

  • Significant intersections are calculated as a minimum of 1m greater than 0.3g/t Au with a maximum of 2m of internal dilution

  • • Au assayed by 50g Fire Assay with AAS finish at ALS Laboratories Perth

  • NSA – No Significant Assay

11

TABLE (2): GIDGEE REGIONAL AC DRILLING FIRE ASSAY AND LEACHWELL COMPARISON TABLE

Hole ID Hole Type Metres
From
Metres
To
Sample ID Original Fire
Assay
Leachwell Au
ppm
GWAC0243 AC 85 86 OMN032796 0.5 0.36
GWAC0251 AC 49 50 OMN033424 0.55 0.63
GWAC0266 AC 54 55 OMN034587 0.6 0.62
GWAC0244 AC 74 75 OMN032866 0.69 0.74
GWAC0243 AC 72 73 OMN032782 0.77 0.61
GWAC0243 AC 77 78 OMN032788 0.84 0.56
GWAC0243 AC 73 74 OMN032783 0.9 0.66
GWAC0243 AC 84 85 OMN032795 0.94 0.87
GWAC0243 AC 79 80 OMN032790 1 0.65
GWAC0243 AC 76 77 OMN032787 1.13 1.06
GWAC0254 AC 52 53 OMN033652 1.16 1.24
GWAC0266 AC 10 11 OMN034539 1.25 0.51
GWAC0247 AC 56 57 OMN033146 1.3 1.4
GWAC0256 AC 20 21 OMN033784 1.4 1.42
GWAC0254 AC 44 45 OMN033643 1.63 1.69
GWAC0257 AC 22 21 OMN033877 2.36 2.41
GWAC0260 AC 79 80 OMN034205 3.47 3.79
GWAC0247 AC 25 26 OMN033113 4.11 4.21
GWAC0256 AC 22 23 OMN033787 5.92 5.99
GWAC0256 AC 23 24 OMN033788 7.86 7.89
GWAC0251 AC 76 77 OMN033454 0.67 0.42
GWAC0242 AC 82 83 OMN032695 1.37 1.33
GWAC0249 AC 74 75 OMN033313 1.01 1.65
GWAC0237 AC 57 58 OMN032377 0.48 0.27
GWAC0268 AC 75 76 OMN034793 0.36 0.22
VCRC0001 RC 28 29 OMN013170 5.04 5.79
VCRC0001 RC 29 30 OMN013171 11.95 13.8
VCRC0001 RC 30 31 OMN013172 0.68 0.71
VCRC0001 RC 31 32 OMN013173 0.7 0.67
VCRC0001 RC 32 33 OMN013174 3.15 3.2
VCRC0001 RC 33 34 OMN013175 12.65 13
VCRC0001 RC 34 35 OMN013176 0.57 0.65
VCRC0001 RC 35 36 OMN013177 0.26 0.21
VCRC0001 RC 36 37 OMN013179 0.03 <0.01

==> picture [97 x 16] intentionally omitted <==

----- Start of picture text -----

Correlation
0.996
Coefficient
----- End of picture text -----

Notes:

  • Original Au assayed by 50g Fire Assay with AAS finish at ALS Laboratories Perth

  • Leachwell Au assayed by 500g Leachwell digest

12

APPENDIX (1): SIGNIFICANT DRILLING INTERSECTIONS JORC Code, 2012 Edition Table 1

Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections)

Criteria JORC Code explanation Commentary
Sampling
techniques

Nature and quality of sampling (e.g. cut channels, random chips, or specific
specialised industry standard measurement tools appropriate to the minerals under
investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.).
These examples should not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the Public
Report.

In cases where ‘industry standard’ work has been done this would be relatively
simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3
kg was pulverized to produce a 30 g charge for fire assay’). In other cases more
explanation may be required, such as where there is coarse gold that has inherent
sampling problems. Unusual commodities or mineralisation types (e.g. submarine
nodules) may warrant disclosure of detailed information.

Flametree AC drilling - 2kg - 3kg samples were split from dry 1m bulk samples. The
sample was initially collected from the cyclone and split via a riffle splitter. The bulk
sample was discharged directly into buckets and placed in rows on the ground

E57/793 and E57/688 AC Drilling – The entire sample was collected from the cyclone
and deposited in rows on the ground. Sampling was completed in 4m composites via
a scoop

Samples were visually inspected by the supervising geologist to observe for sample
loss or uneven sample collection methods

Field duplicates were collected at a ratio of 1:20 through the mineralised zones and
collected at the same time as the original sample. OREAS certified reference
material (CRM) was inserted at a ratio of 1:20 through the mineralised zone. The
grade ranges of the CRM’s were selected based on grade populations and economic
grade ranges
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Diamond Drilling: HQ3 and NQ core drilled in fresh rock. Core orientated and
mineralised noted and marked for cutting. Sample lengths sampled at 1m intervals
and cut to half-core sub-sample collected

RC Drilling: Samples were collected on 1m intervals, riffle split and 5m composite
samples prepared for assay. Re-assays were undertaken on selected 1m samples

All historic Gateway Mining Ltd drill samples were sent to ALS in Perth, for 3kg
pulverisation for production of homogenous 50g or 30g charge for Au fire assay and
multi-element assay (code ME-MS61 – below)
Criteria JORC Code explanation Commentary
Drilling
techniques

Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger,
Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of
diamond tails, face-sampling bit or other type, whether core is oriented and if so, by
what method, etc.).

AC drilling was carried out by Challenge Drilling utilising an aircore bit and 3”
diameter rods
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Diamond Drilling: RC percussion or HQ3 pre-collars were drilled to fresh rock. NQ
core drilled for remainder of holes. No details available on drilling rig specifications

RC Drilling: RC percussion drilled as pre-collars to fresh rock. No details available on
drilling rig specifications
Drill sample
recovery

Method of recording and assessing core and chip sample recoveries and results
assessed.

Measures taken to maximize sample recovery and ensure representative nature of
the samples.

Whether a relationship exists between sample recovery and grade and whether
sample bias may have occurred due to preferential loss/gain of fine/coarse material.

During the AC sample collection process, the individual bulk samples were inspected
by the supervising geologist to observe sample recoveries

At the end of each metre the bit was lifted off the bottom to separate each metre
drilled

The majority of samples were of good quality with ground water having minimal
effect on sample quality or recovery

From the collection of recovery data, no identifiable bias exists
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Diamond Drilling: Recoveries in fresh rock are recorded as being satisfactory and
that no inherent bias has been introduced from drilling or sampling techniques

RC Drilling: There are no records available that capture information on drilling

14

Criteria JORC Code explanation Commentary
recoveries. Typically a minimum 3kg sample was provided to the laboratory for
assay. Samples consideredfitforpurpose
Logging
Whether core and chip samples have been geologically and geotechnically logged to
a level of detail to support appropriate Mineral Resource estimation, mining studies
and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel,
etc.) photography.

The total length and percentage of the relevant intersections logged.

Aircore chips were washed and stored in chip trays in 1m intervals for the entire
length of each hole. Chips were visually inspected and logged to record lithology,
weathering, alteration, mineralisation, veining and structure

Data on rock type, deformation, colour, structure, alteration, veining, mineralisation
and oxidation state were recorded. Magnetic susceptibility was also recorded

Logging is both qualitative and quantitative or semi quantitative in nature
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Reverse circulation and Aircore chips were washed and stored in chip trays in 1m
intervals for the entire length of each hole. Chips were visually inspected and logged
to record lithology, weathering, alteration, mineralisation, veining and structure.

Records of samples being wet or dry were taken

Diamond core was presented and stored in industry standard core boxes. The core
was orientated and core loss noted

Data on rocktype, deformation, colour, structure, alteration, veining, mineralisation
and oxidation state were recorded. RQD, magnetic susceptibility and core recoveries
were recorded

Logging is considered both qualitative and quantitative or semi-quantitative in
nature

The logging information is considered to befitforpurpose
Sub-sampling
techniques and
sample
preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled
wet or dry.

For all sample types, the nature, quality and appropriateness of the sample
preparation technique.

Quality control procedures adopted for all sub-sampling stages to maximise
representivity of samples.

Measures taken to ensure that the sampling is representative of the in situ material
collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being
sampled.

For Flametree AC drilling, samples were split from dry, 1m bulk sample via a riffle
splitter. For E57/793 and E57/688 AC Drilling samples were collected from the bulk
1m sample via a scoop, into 4m composite samples

The QC procedure adopted through the process includes:
o
Field duplicates were collected at a rate of 1:25, these were collected
during drilling at the same time as the primary sample
o
OREAS certified material (CRM) was inserted at a rate of 1:25, the grade
ranges of the CRM’s were selected based on grade populations

2-3kgs of sample was submitted to the laboratory

Samples oven dried at 10gdegC then pulverized in LM5 mills to 85% passing
75micron

For AC samples the sample preparation technique is appropriate and is standard
industry practice for a gold deposit

Quality control for maximising representivity of samples included insertion of field
duplicates and laboratory duplicates

15

Criteria JORC Code explanation Commentary
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

RC samples were split using a riffle splitter. 1m samples were collected and 5m
composites prepared for assay. Re-assays were undertaken on selected 1m samples

Typically 3kg samples were submitted to the assay laboratory

Only minor numbers of samples are recorded as being wet

QA/QC data is not currently available

Sampling processes are considered fit for purpose

Diamond core was presented and stored in industry standard core boxes. The core
was orientated and core loss noted. Once logged the core was marked up for
sampling at 1 metre intervals. Half core samples were collected and submitted to
the assay laboratory
Quality of assay
data and
laboratory tests

The nature, quality and appropriateness of the assaying and laboratory procedures
used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc., the
parameters used in determining the analysis including instrument make and model,
reading times, calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (e.g. standards, blanks, duplicates,
external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of
bias) and precision have been established.

Samples are sent to ALS in Perth, for 3kg pulverisation for production of homogenous
50g charge for Au by fire assay digest and AAS determination

Field duplicates are collected at a rate of 1:25 with CRM’s inserted at a rate of 1:25
also. The grade ranges of the CRM’s were selected based on grade populations

Selected mineralised oxide zone samples from Flametree were re-submitted to ALS
for analysis by a 500g Leachwell technique with AAS determination. This analysis
was performed as a first-pass identification of potential issues with extraction of Au
via cyanidation techniques. The testwork did not indicate any issues
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

All samples were assayed at either Analabs or ALS in Perth.

Samples were analysed for Au by AAS technique with results greater than 0.5ppm
Au re-assayed by Fire Assay. Multi-elements were digested using hydrofluoric acid
with an ICP-AES and MS finish

QA/QC data is not currently available

Sampling processes are consideredfitforpurpose
Verification of
sampling and
assaying

The verification of significant intersections by either independent or alternative
company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification, data
storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

Drilling results are cross checked by company geologists and consulting geologists
(OMNI GeoX Pty Ltd.)

Data is recorded digitally at the project within standard industry software, assay
results received digitally also

All data is stored within a suitable database

16

Criteria JORC Code explanation Commentary
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Logging and sampling were recorded directly into a Stratalog T500 digital logging
unit.

All drilling information is currently stored in a Gateway SQL database.

All information has been plotted on section and in plan to match against
neighbouring holes and determine likely validity of the data

QA/QC data is not currently available.

Samplingand assaydata are considered fit forpurpose
Location of data
points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole
surveys), trenches, mine workings and other locations used in Mineral Resource
estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

Drill hole location is initially recorded with a handheld Garmin GPS (+/- 3m) and will
eventually be recorded by DGPS (+/-1cm). A Reflex EZ North Seeking Gyro is used
to record the deviation of the drill holes (+/- 1deg)
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

A truncated AMG grid was established across the project area and hole collars were
measure from fixed survey pegs. These collar locations have been validated using
detailed aerial photography

Downhole surveys were undertaken with an Eastman single shot camera on
intervals ranging from 30 to 50m

Location data is consideredfitforpurpose
Data spacing
and distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the degree of
geological and grade continuity appropriate for the Mineral Resource and Ore
Reserve estimation procedure(s) and classifications applied.

Whether sample compositing has been applied.

Refer to tables within text for data spacing

Holes drilled within this program in combination with the historical holes and their
related samples are not deemed to be suitable for Mineral Resource estimation at
this time
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Drilling at The Flametree prospect has been conducted at various spacings with the
more recent Gateway Mining Ltd drilling conducted at 50 metre centres
Orientation of
data in relation

Whether the orientation of sampling achieves unbiased sampling of possible
structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key

Drill lines are orientated MGA east-west, which may be oblique to the perceived
strike of the mineralized structure

The orientation of drill lines relatiove to keystructures is not considered to have

17

Criteria JORC Code explanation Commentary
to geological
structure
mineralised structures is considered to have introduced a sampling bias, this should
be assessed and reported if material.
introduced any sample bias
Historical Drilling:
All information referred in this report not collected in this current program has been
accessed through verifying historical company reports and/or available digital
databases.

Drilling directions at the Flametree VMS prospect was conducted perpendicular to
the strike of known geophysical anomalism (090 degrees azimuth) and regional
geology

The majority of holes have been drilled at a 60 to 90o dip and intersected the
mineralisation at an appropriate angle

The orientation of the drilling is suitable for the mineralisation style and orientation
of the mineralisation at the Flametree VMSprospect
Sample security
The measures taken to ensure sample security.

Calico samples are sealed into green/poly weave bags and cable tied. These are
then sealed in bulka bags and transported to the laboratory in Perth by company
staff or trusted contractors or established freight companies
Audits or
reviews

The results of any audits or reviews of sampling techniques and data.

Drilling results are cross checked by company geologists and consulting geologists
(OMNI GeoX Pty Ltd.)

18

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary
Mineral
tenement
and
land
tenure
status

Type, reference name/number, location and ownership including agreements or
material issues with third parties such as joint ventures, partnerships, overriding
royalties, native title interests, historical sites, wilderness or national park and
environmental settings.

The security of the tenure held at the time of reporting along with any known
impediments to obtaining a licence to operate in the area.

E57/417, E57/688 and E57/1004 tenements are held by Gateway Mining Ltd 100%.
E57/793 is held 75% by Gateway Mining Ltd and 25% by Estuary Resources Pty Ltd.

No Native Title claims are lodged over the tenements
Exploration done
by other parties

Acknowledgment and appraisal of exploration by other parties.

Gold was discovered in the district during the gold rush era, first records of gold won
from small-scale, high-grade workings include the Montague Mining Centre (1904-
13). Renewed interest in the late 1960's included base metal exploration carried out
within exposed stratigraphy of the Montague Ranges (Bungarra Ranges),
exploration interest that broadened with the release of the Sandstone 1:250,000
aeromagnetic sheet in 1970 resulting in the staking of favourable magnetic
anomalies by exploration companies

Early explorers in the Montague Ranges included Anaconda Australia Inc. (1966-67),
followed by International Nickel Australia (1971-75) evaluating a Gabbro - banded
differentiated basic complex believed prospective for copper and/or nickel such as
the Dulith Gabbro, USA. Strong geophysical and mineralised anomalism was
encountered, however, copper-zinc enrichment was also encountered in adjacent
felsic stratigraphy at Ed's Bore prospect, which was followed-up by CRA Exploration
(1983-1990) to intersect polymetallic VMS enrichments at Bevan prospect (not
substantively pursued)

At Montague, Western Mining Corporation (1976) conducted investigations for
copper and gold including soil sampling and IP surveying, which was followed by CRA
Exploration (1984-89) working concurrently with AMOCO Minerals Australia
Company (1984) and Clackline Refractories Ltd (from 1985 - to later become Herald
Resources) assessing/purchasing historic mine areas from Mr W.J. Griffiths of
Sandstone. RAB drilling penetrating transported cover resulted in the virgin
discoveries of NE Pit by AMOCO and Whistler deposit by CRA. Later noted explorers
included Dalrymple Resources NL (1987-1990) intersecting gold at the Armada
(Twister) prospect, and Arimco Mining (1990-98) intersecting gold at Lyle prospect,
Victory West prospect, and copper at The Cup prospect (not substantively pursued)

The Montague Mining Centre produced approximately 150,000oz of gold
commencing in 1986 at Caledonian and NE Pits (Clackline), and continued at
Montague Boulder from 1988 (Herald), and was to close in 1993 after completion of
the Rosie Castle open cut (Herald). Whistler open cut was mined from November
1990 (Polaris Pacific NL) and ore toll treated through the Herald mill. Little attention
waspaid to mineralisation other thangold. GatewayMininginjoint venture with

19

Criteria JORC Code explanation Commentary
Herald Resources continued exploration of the Montague Mining Centre, Gateway
also targeting poly-metallic intrusion related - VMS models in the district from 2006

Airport, Airport Sth, S Bend, Rosie Nth, Rosie Sth mineralisation was discovered by
Gateway Mining between 2007 and 2011 in RAB drilling and later defined by RC
drilling
Geology
Deposit type, geological setting and style of mineralisation.

Gateways’s Gidgee Project is located in the Gidgee district in the Archean Yilgarn
Craton of Western Australia approximately 630km NE of Perth and 70km north from
the township of Sandstone on the eastern central portion of the Gum Creek
Greenstone Belt, of the Southern Cross Province. Metamorphic grade of the Gum
Creek Greenstone Belt is estimated to be low-grade greenschist facies

Project lithology includes basalt/ash tuff/dolerite/gabbro, the Montague
Granodiorite sub-volcanic intrusion (calc-alkaline - FI), dacite volcanic flow/s (FI),
volcaniclastic sequences of felsic composition and epiclastic conglomerates,
ultramafic intrusives and external orogenic granite plutons. Key regional
characteristics of a Volcanic Arc Extensional Basin include calc-alkaline bimodal
volcanic sequences associated with extensive iron formations. Later ENE-WSW
orogenic
compression
event
is
characterised
by
NNW
regional
scale
faults/unconformities, NNW shearing and folding, slaty cleavage has developed
within sediments near a tight syncline fold closure within the NE area of the project
Drill
hole
Information

A summary of all information material to the understanding of the exploration results
including a tabulation of the following information for all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill
hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.

If the exclusion of this information is justified on the basis that the information is not
Material and this exclusion does not detract from the understanding of the report, the
Competent Person should clearly explain why this is the case.

Exploration drill results from recent drilling, and associated details are contained in
Table 1 of this release. Historic intersections have been previously released by
Gateway in various ASX releases, which can be accessed on the Gateway Mining Ltd
website
Data
aggregation
methods

In reporting Exploration Results, weighting averaging techniques, maximum and/or
minimum grade truncations (eg cutting of high grades) and cut-off grades are usually
Material and should be stated.

Where aggregate intercepts incorporate short lengths of high grade results and
longer lengths of low grade results, the procedure used for such aggregation should
be stated and some typical examples of such aggregations should be shown in detail.

Significant intersections are calculated as a minimum of 1m greater than 0.3g/t
Au with a maximum of 2m of internal dilution

No high-grade cut-off has been applied

20

Criteria
JORC Code explanation
Criteria
JORC Code explanation
Commentary

The assumptions used for any reporting of metal equivalent values should be clearly
stated.
Relationship
between
mineralisation
widths
and
intercept lengths

These relationships are particularly important in the reporting of Exploration Results.

If the geometry of the mineralisation with respect to the drill hole angle is known, its
nature should be reported.

If it is not known and only the down hole lengths are reported, there should be a clear
_statement to this effect(eg ‘down hole length, true width not known’). _

Drill lines were orientated MGA east-west, which in parts may be oblique to the
perceived strike of the mineralised structure. Vertical AC holes (90o) are
perpendicular to the dip of the interpreted supergene blankets targeted by this
drilling, and thus introduce limited sample bias
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts should be
included for any significant discovery being reported These should include, but not be
limited to aplan view of drill hole collar locations and appropriate sectional views.

Appropriate maps are included in the announcement
Balanced
reporting

Where comprehensive reporting of all Exploration Results is not practicable,
representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.

The accompanying document is considered to be a balanced report with a suitable
cautionary note
Other
substantive
exploration data

Other exploration data, if meaningful and material, should be reported including (but
not limited to): geological observations; geophysical survey results; geochemical
survey results; bulk samples – size and method of treatment; metallurgical test
results; bulk density, groundwater, geotechnical and rock characteristics; potential
deleterious or contaminating substances.

A series of intersections from the Flametree prospect were selected based on oxide
or transition zone mineralisation, and submitted to ALS for 500g Leachwell analysis
via accelerated cyanide leach. This analysis was completed as a first pass test of
potential metallurgical recovery via cyanidation. The analysis demonstrated that
oxidised samples from Flametree show no issues for extraction of gold via cyanide
leach. However, this testwork is only first pass in nature and not a robust diagnostic
metallurgical technique
Further work
The nature and scale of planned further work (eg tests for lateral extensions or depth
extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the main
geological interpretations and future drilling areas, provided this information is not
commercially sensitive.

Step-out AC drilling along strike of high grade gold intercepts and the oxide gold trend
indicated from shallow historical drilling. Regional AC drilling to test along the
interpreted contact position

21