New England Region

The New England Region is situated in the Northern Tablelands of the northeastern part of NSW, which encompasses two of the Company’s tenements (approximately 198km²). These two tenements fall within the broader New England Orogen, a region known for historic gold, and base metal deposit. The tenements lie within the Clarence-Moreton Basin of the New England Orogen, overlying the prospective 264Ma Drake Volcanics, host to the Mt Carrington gold-silver complex. The Tenements are prospective for high grade lode and low grade stockwork epithermal gold and silver.

Gold, silver and copper mining commenced on the tenements in 1853. Post-1960s exploration has primarily focused on the Mt Carrington area within the Drake district to the south of the Company tenement EL9142. The Mt Carrington district hosts multiple precious and base metal deposits, with small-scale open pit mining conducted by Mt Carrington Mines between 1988 and 1990.

Historically, silver was the first metal discovered in 1878 at Boorook at the Golden Age Mine by the late Mr Thomas Horton. At Boorook, small-scale workings are concurrent along the Silver King, Golden Age, Addisons, and Wellington trends. Estimated historical production was approximately 125,000 oz Ag and 700 oz Au, mainly from the Golden Age reefs and Wellington line, which extend up to 3 kilometres along a northerly trend, and were mined between 1872 and 1884

The Company has identified 14 priority prospects through comprehensive desktop reviews of historical exploration data. The review focused on areas with prior mining activity, favourable lithology, anomalous geochemistry, and supportive geophysical signatures. The Company plans to undertake reconnaissance field work and geophysical surveys at several prospect areas where previous drilling has indicated both high-grade lode gold and silver mineralisation