Circle Valley
Gold Project

The Circle Valley Project (MEK 100%) is located 85 kilometres south of Norseman in Western Australia. The project tenure covers the southwestern Albany‐Fraser Mobile Belt.

The Albany-Fraser Mobile Belt is a highly prospective but underexplored frontier, as demonstrated by the considerable success AngloGold Ashanti had with the discovery and development of the 7.1Moz Tropicana gold mine (currently jointly owned by AngloGold Ashanti and Regis Resources Ltd Joint Venture).

The geology at Circle Valley is comprised of predominantly felsic and to a lesser extent mafic gneissic rocks. Gold appears coincident with magnetic features and drilling has defined four large kilometre scale gold anomalies.

On taking ownership of the project in early 2020 the Company quickly set about securing land access agreements with local landowners. Exploration drilling at the 1,200m by 400m Anomaly A Prospect returned results in February 2023. Anomalous gold was intersected in every hole, including two zones of high-grade gold (22ALDD003):

• 5.6m @ 4.63g/t Au from 76.4m including 1.0m @ 17.70g/t Au
• 4.2m @ 2.90g/t Au from 132.0m including 0.4m @ 13.57g/t Au

Follow-up RC drilling was conducted at Anomaly A, intersecting primary gold:

• 16m @ 1.50g/t Au from 36m including 4m @ 3.89g/t Au (23CVRC002)
• 8m @ 2.79g/t Au from 124m including 4m @ 5.15g/t Au (22CVRC012)

A single hole was also drilled at the highly prospective Fenceline target, ~10km to the northeast of Anomaly A, and intersected primary gold of 4m @ 2.97g/t Au from 92m (22CVRC020).