26Moz, +5g/t AuEq Gold, Silver, PGM Porphyry Exploration Target. First assays imminent.

37 drillholes completed – assays pending. 50 drillhole program commencing October.

A few crucial aspects that guide the resource estimate are:-

• Mineralisation is outcropping, widespread, DISSEMINATED and pervasive, independent of rocktype in intense hydrothermally altered kilometre-scale mafic and felsic porphyry intrusions;
• This means that there are no structural controls constraining the mineralised volume;
• No barren rock encountered in drilling or rock chip bulk samples;
• From the ~50 drilling results to date, ~95% results more than 1g/t Au;
• Grades of up to 360g/t gold, 2905g/t silver, 105g/t palladium and 63g/t platinum from bulk rockchip samples (~150kg);
• The 5g/t AuEq grade used for the global grade is a conservative grade based on the one 8g/t AuEq assay result we’ve received (announced 7th Sept) which undercalls all of the testwork data to date by a large margin.


The possibility that bedrock mineralisation continues for many kilometres (potential for mineralisation to extend for a total of 20km or more) is supported by :-

• Soil sample anomalies up to 5km along strike an 2km wide;
• Numerous extensive workings up to 800 x 200m in size extending for kilometres;
• Aeromag anomalies extending for a total of about 30km.


+5g/t 26Moz Porphyry Exploration Target

Here’s two of the cross section from one of the projects, Tres Estados, showing how extensive the mineralisation is. Intervals without annotation have not been tested due to the labour intensive nature of the previous method used before they developed the new assay method. The new assay method will test all holes from top to bottom.




A plan is used to add the buffers around the existing and planned drilling to estimate the horizontal area and an avg. depth of (only) 50m is used which yields the 10.2Moz resource tabulation.




The other main project is Ema which has existing and planned drilling. There's a third porphyry called Juma East which is also mineralised at similar grades but does not form part of this Exploration Target.

Ema contains existing drilling results with similar grades and with the planned drilling it will cover a similar sized area as Tres Estados, except Ema is drilled to depths of up to 120m.

Avg maybe 80m depth --> 16Moz + 10Moz from TE = 26Moz



...also there's 5 of these drilling clusters planned at Ema and TE which I won't include in the headline Exploration Target.






Massive upside in the grade

The 8g/t AuEq assay is within metres of other bulk samples taken with grades up to 122g/t Au, 2,905g/t Ag.

The widespread, disseminated and pervasive nature of the mineralisation together with the very close proximity of the samples suggests that there is a massive undercall in the grade using the new assay method.


Ridiculous upside in the tonnages

Porphyry deposits are vertically extensive and often reach billions of tonnes in size and the data presented here supports that possibility.

East of the existing drilling at Tres Estados they're going to prove that it continues further east for 3km to the 297g/t Tabocal workings!

Aeromag and workings with existing and planned drilling.