Central Davyhurst

GEOLOGY & MINERALISATION

Mineralisation in the Central Davyhurst region occurs along two principal trends:

1. On the eastern side of the project area, which includes the Golden Eagle deposit, mineralisation is developed in a series of silica-biotite-pyrite altered shears within a tholeiitic to high-Mg basalt sequence. At the Lights of Israel deposit (LOI), an ore shoot within the shear has been tracked with drilling to the north for approximately 1.8km down plunge and mined to approximately 500m below the surface. The deposit remains open down plunge. A conceptual repeat target exists in the footwall of the LOI deposit. The company believes similar down-plunge shoot development could occur in the adjacent Makai and Great Ophir deposits.
2. On the western side of the project, the Round Dam Trend which hosts the Waihi deposit, extends some 20km from the Two Gum Dam prospect in the south, to north of the Waihi open-cut mine. Gold mineralisation is associated with the sheared contact between a tremolite-chlorite schist and a high-Mg basalt unit. Along the trend there are several advanced targets that are being prepared for additional drill testing.

ADDITIONAL TARGETS

Several areas of historical artisan mining or more recent open pit mining exist to the south of Waihi along the Round Dam Trend, but still within a 5km radius of the Davyhurst Processing Plant. The most advanced prospect of these is Dexy, located 600m south of Waihi. Further south are the open pits of Lady Eileen and Lady Eileen South. Drill results near these deposits indicate that significant high-grade material remains beyond the former limits of mining.

Targets west of the Davyhurst Processing Plant include the Homeward prospect, located 2km north along strike from the Great Ophir and LOI deposits. Relatively shallow RC drilling is suggestive of a possible resurfacing of the Great Ophir and LOI mineralisation. In addition, gold anomalism in historical drill results from just north of the Great Ophir pit into the Homeward prospect area are suggestive of potentially continuous mineralisation for up to nearly 4km to north of the Great Ophir and LOI complex. Follow-up RC drilling is planned.

A large coherent Au-As-W auger anomaly has been defined by the Company at the Queen of Hearts prospect, located 5.5km west of the Davyhurst Mill. The area is coincident with the interpreted location of the Kunanalling Shear and is along strike from the Golden Lode deposit, located 4km to the south on competitor tenure. Follow-up Aircore drilling is planned.

RESOURCES & RESERVES

MINERAL RESOURCES

MINERAL RESERVES

HISTORICAL PRODUCTION
The table below summarises the cumulative gold production from the project based on the available records;

Central Davyhurst Project – Historical Production Total oz Au