Ann: EXCEPTIONAL HIGH-GRADES UP TO 34.9 G/T AU AT ISLAND GOLD, page-72

Lena and the Break of Day Trend
The Lena deposit is located within the Lena Shear Zone and features a current mineral resource estimate of 4.3mt @ 2.3g/t Au for 325koz Au. Mineralisation occurs in tabular domains oriented sub-parallel to the shear, within an ultramafic volcanic package intruded by a number of felsic porphyry units.

Higher grade mineralisation is commonly associated with quartz-sulphide shear veins (up to 1m wide) and biotite-sericite-albite-sulphide alteration. The mineralised veins are strongly affected by folding, boudinage and transposition in the shear foliation, suggesting mineralisation was developed pre to syn-shearing.

The Break of Day trend comprises the high grade Break of Day (797kt @ 10.2g/t Au for 262koz Au) and White Heat-Mosaic (185kt @ 11.0g/t for 65koz) deposits. Mineralisation is restricted to a low-strain tholeiitic basalt unit and hosted within discordant quartz breccia lodes with minor sulphides (1-2%), predominantly pyrite. Several mineralised orientations are present at the Break of Day trend, but the thickest, highest grade mineralisation is typically associated with northwest-trending lodes, such as Starlight, White Light, and White Heat.

The 2020 discovery of the Starlight and White Light gold lodes at Break of Day led to significant near-surface high grade resource growth. Significant intercepts from the Starlight and White Light lodes include:

• Starlight:
  o 14m @ 191.1g/t Au from 4m (20MORC068)
  o 12m @ 109.4g/t Au from 40m (20MORC033)
  o 31m @ 44.8g/t Au from 27m (20MORC037)
  o 16m @ 13.7g/t Au from 16m (20MODD008)
  o 28m @ 68.5g/t Au from 21m (23MORC205)
  o 19m @ 112.0g/t Au from 27m (23MORC208)
• White Light:
  o 6m @ 48.2g/t from 211m (20MODD005)
  o 3m @ 126.7g/t from 72m (20MORC001)

High grades are also common within the other lodes at Break of Day. Significant intercepts from the north-south trending Twilight lode include:

• 15m @ 60.3g/t from 14m (23MORC154)
• 18m @ 71.1g/t from 13m (23MORC318)
• 10m @ 64.0g/t from 4m (23MORC151)

The White Heat lode was discovered in 2021, located just 300m south of Break of Day. Individual gold lodes in this high-grade system have a strike of 70-100m, are near-surface and open down plunge. Intersections at White Heat include:

• 4m @ 100.1g/t Au from 74.6m (21MODD019)
• 7m @ 149.6g/t Au from 143m (22MORC130)
• 3m @ 378.0g/t from 12m (23MORC225)

Adjoining the White Heat lode, the ENE-trending Mosaic lode was discovered in late 2021. Intersections in the Mosaic lode include:

• 15m @ 111.6g/t Au from 25m (21MORC232)
• 9m @ 110.5g/t Au from 42m (21MORC414)
• 2.8m @ 122.2g/t Au from 72m (21MODD041)

Other Moyagee Deposits
The Big Sky deposit (4.7Mt @ 1.2g/t for 173koz) is situated 3km southwest of Break of Day, within a strongly sheared package of sediments intruded by felsic porphyries. Mineralisation occurs in tabular zones oriented sub-parallel to the shear fabric with internal competency contrasts between the lithologies a likely factor in controlling mineralisation. Higher grade mineralisation is commonly associated with increased density of quartz-sulphide veins (up to ~5 cm wide), and sericite-carbonate-pyrite alteration.

At the Numbers deposit (817kt @ 1.3g/t for 35koz), mineralisation is restricted to a series of banded iron units, hosted within high-magnesian basalts. The Leviticus deposit is located 1.5km south-southeast of the White Heat deposit, hosted within the high-magnesian basalt immediately to the east of the Starlight tholeiitic basalt sequence. The mineralisation style is comparable to Lena and comprises sulphide-rich shear lodes parallel to stratigraphic contacts. The deposit hosts a current resource of 42kt @ 6.0g/t for 8koz.

Several newer prospects have also recently been discovered that are not currently included in the resource estimate. These include Amarillo, an analogue to Big Sky 700m further north, and Waratah, featuring BIF-hosted mineralisation comparable to Numbers.