Kalgoorlie Project

(Gold & Base Metals)

The Company’s Kalgoorlie Project area is located east of, and contiguous with, the Yarri Project area, is about 80km wide and extends north from Kalgoorlie for approximately 100km. It comprises the granted Ringlock Dam Exploration Licence E29/1087, approximately 80km north-northwest of Kalgoorlie and 30km north of Broad Arrow, and the Lake Goongarrie Exploration Licence application ELA29/1115. The two Licences are contiguous and cover approximately 234km², hosted by granite-greenstone rocks of the Boorara Domain within the Kalgoorlie Terrane.

At Ringlock Dam there is broad Cenozoic cover, with interpreted bedrock geology comprising mafic to ultramafic volcanic rocks and various granitic rocks. The ultramafic sequence within the Ringlock Dam Licence forms the northern end of the Black Swan and Gordon-Sidar Komatiite Complexes which extend NW/SE for at least 50km. The granitic rocks are mainly monzogranite to granodiorite with outcrop limited to the southeast of the Licence area.

The Ringlock Dam Licence is approximately 30km northwest of the Silver Swan and Black Swan nickel deposits and comprises up to 10km of strike of the Black Swan Komatiite Complex (BSKC) which hosts the later deposits. The Silver Swan deposit has past underground production of 2.7Mt @ 5.1% nickel, and the Black Swan deposit has past open pit production of 5.9Mt @ 0.7% nickel (Source: Poseidon Nickel Presentation - Paydirt Australian Nickel Conference 5 October 2021). 

The focus of historical exploration drilling activity has been the nickel mineralisation potential in the BSKC rocks with the main prospect defined as GSP Prospect, which is known to host both massive and disseminated nickel-sulphide mineralisation.

Within the Licence area, the GSP Prospect has been explored with over 100 historical RAB, RC and diamond drill holes over approximately 1km strike of the interpreted basal portion of the BSKC. Zones of high-grade primary nickel mineralisation >20m thick have been identified by the historical drilling at GSP, with example significant intercepts (at 1.0% Ni cut-off) of:

• GS033       26.01m @ 1.04% Ni from 95m; including 2.75m @ 2.32% Ni from 117.65m;
• GS013       6.71m @ 1.61% Ni from 162.15m; including 2.74m @ 2.93% Ni from 166.12m;
• RPD002    6m @ 2.3% Ni from 85m; including 5m @ 2.72% Ni from 86m;
• GS022       4m @ 1.0% Ni from 193m; and
• MJRC047   7m @ 1.4% Ni from 104m; including 3m @ 2.85% Ni from 104m.

The Company’s Lake Goongarrie Exploration Licence application (ELA29/1115) is contiguous with the Ringlock Dam Exploration Licence application and is interpreted from aeromagnetic and regional mapping data to host extension of the BSKC unit under cover as well as similar felsic intrusive rock suites. There is limited gold geochemical sampling coverage of the Licence application and sparse drill coverage, presenting an extensive area that remains largely untested with respect to modern nickel and gold exploration.