Cobar Gold

The Cobar Gold Project is 30km east-southeast of Aurelia’s Peak Gold Operations and only 16km from the privately owned Mt Boppy Gold Mine (historic production 417,000oz at 12.2g/t average grade). The project shares similar geological and structural controls to the nearby Peak Trend deposits, being relatively short strike sediment hosted and structure related gold deposits. The Cobar Gold project resource estimate was defined below historic prospects (Sunrise, Good Friday and Battery Tank) and an internally generated greenfield discovery (Boundary).

Highlights: Control of a large-scale goldfield (600 km2) close to infrastructure. Existing 118koz Au JORC2012 Oxide Resource (refer Table). Large system potential, comparable geological setting to nearby 4Moz Peak Trend. Multiple structural targets. All known prospects remain open with depth extensions expected.

Whilst a high-level mining study assessment is yet to be conducted, the “from surface” nature of the gold mineralisation suggests that if deposits of sufficient size are delineated, they be may amenable to initial open cut mining methods. There remains significant potential for locating additional gold mineralisation throughout the broader goldfield.

Resource: The deposits were mostly delineated by Helix with RC and diamond drilling completed in drilling campaigns between 2011 and 2017.The Mineral Resource is defined by a total of 135 RC and diamond drill holes for 15,390m for a total discovery cost per ounce of approximately A$25 per oz.

The Mineral Resources have been classified as Inferred Mineral Resources in accordance with the JORC Code, 2012 Edition and are shown in Table A. This table represents the total resource from deposits and is reported using a cut-off grade of 0.4 g/t Au and a higher cut-off grade of 1.2g/t Au.

Resource interpretations and wireframes were prepared using a nominal 0.3g/t Au cut-off grade. The boundaries were generally modelled as sharp for this resource.

Cobar Gold Project 2019 Mineral Resource Estimate (0.4g/t Au Cut-Off)

*Rounding discrepancies may occur in summary tables

Cobar Gold Project 2019 Mineral Resource Estimate (1.2g/t Au Cut-Off)

*Rounding discrepancies may occur in summary tables