cr122057

The exploration aim of the Mount Margaret Project, which includes EPM 26767 ‘Douglas’, is to identify economic copper-gold mineralisation within the Eastern Succession of the Mount Isa Inlier. The target is for high-grade, modest tonnage deposits of various mineralisation styles such as sediment hosted (e.g. Mount Isa), structurally controlled (e.g. EHM) or magmatic (e.g. Saxby Prospect). Exploration work in Year 2 (2019 – 2020) included further desktop reviews of open file data and historical work, processing of geophysical data sets, and field reconnaissance of areas of interest identified in the first year of the tenure. EPM 26767 Douglas is prospective for economic for base metal mineralisation, given its proximity to numerous deposits (e.g. Wynberg, Lorena, Monakoff, EHM, Eloise). The tenement is also strategically situated proximal to the Monakoff and EHM haul roads, both of which are assets held by Glencore plc. Exploration activities conducted in the reporting period have identified several new targets which will be further explored in Year 3.