Plenty of potential at Grace as outlined in quarterly "The...

Plenty of potential at Grace as outlined in quarterly "The magnetic anomaly patterns suggest that hydrothermal magnetite and/orpyrrhotite have altered the dolomitic siltstone host rocks, similar to the Havieron gold deposit"

The Company’s geophysical consultants conducted extensive 3D inversion aeromagnetic modelling
on the publicly available high-resolution aeromagnetic survey data covering the Grace Project in the
immediate vicinity of the open ended gold mineralisation at the Grace deposit.
High resolution aeromagnetic survey data acquired at 100m survey line spacing show a strong NWSE magnetic anomaly high trend following the southern side of the Grace-Bemm shear zone, and
just to the south of this magnetic anomaly trend is another parallel magnetic anomaly trend with
very strong magnetic anomalism, with both anomaly trends located entirely within the Company’s
tenements (Figure 3). The magnetic anomaly patterns suggest that hydrothermal magnetite and/or
pyrrhotite have altered the dolomitic siltstone host rocks, similar to the Havieron gold deposit to
the northeast, or have formed skarn contact zones related to underlying intrusive igneous rocks,
similar to the O’Callaghans tungsten and base metal deposit located between Grace and Telfer, or
are related to dolerite sills usually found lower down in the stratigraphic sequence. These magnetic
anomaly zones have not yet been systematically drilled deep enough to fully assess the sources of
the magnetic anomalies to see if they are related to associated zones of gold and copper
mineralisation. The potential sources for the magnetic anomalies could be hydrothermal magnetite
and pyrrhotite alteration associated with gold-copper mineralisation at depth, and 3D inversion
modelling has been used to estimate depth to the magnetic source bodies for planning deep drilling
into these target bodies by the Company.