THE TOTTENHAM PROJECT - OVERVIEW

  • The Project is located in the Cobar-Girilambone district in Central New South Wales, which is considered prospective for gold and copper.
  • Tottenham comprises three granted exploration licences (EL 6592, EL 6656 and EL 8384) (Tenements) and one exploration licence application (ELA 6213) covering approximately 313km2 of ground.
  • Access to the project area is via Main highways with several sealed and unsealed tracks accessing the interior.
  • The two primary deposits – Carolina and Mount Royal (which includes the Orange Plains prospect), are situated within an under-explored and prospective land package containing 30 Km total strike length of a Volcanic Hosted Massive Sulphide (VHMS) copper corridor.
  • The project comprises two resource level deposits at Carolina and Mount Royal with an exploration target of 7.37Mt @1.2% Cu and 0.4g/tAu, for 86,100 tonnes of contained copper and 90,600 ounces of contained gold with significant exploration upside.
  • Similar to that of the neighbouring Tritton deposit to the north, Tottenham Deposits to the east and the adjacent Collerina Deposit which extends along strike into tenement EL8384.

THE TOTTENHAM PROJECT - EXPLORATION

Historical Exploration:

  • Mincor Resources NL acquired EL6592 and EL6656 in 2006.
  • Mincor have since spent more than $5M on the project with widespread soil sampling; drilling; detailed airborne magnetics and electromagnetics; and resource calculations.
  • Bacchus Resources Pty.Ltd. entered into a joint venture with Mincor in early 2017 with the view to drill, increase some resources and have the leases renewed.

Proposed Exploration:

  • Post IPO, the company proposes to initially concentrate resource definition and extension drilling at the Carolina and Mount Royal / Orange Plains resources.
  • Larger diameter “PQ” diamond drilling will be undertaken at both deposits to obtain geotechnical and metallurgical data to assist scoping studies.
  • Exploratory drilling will be used in the Bogan River to King Edward VII area to explore for additional resources in an area of some previous drilling success.
  • Exploratory air-core drilling is planned to test prospective magnetic horizons to the south of the Carolina Deposit and about the Burdenda Prospect. Airborne electromagnetic surveys will be completed over areas currently not covered, particularly for eastward extensions of the Collerina Deposit.

THE TOTTENHAM PROJECT - CAROLINA DEPOSIT

Historical Exploration:

  • Mincor Resources NL acquired EL6592 and EL6656 in 2006.
  • Mincor have since spent more than $5M on the project with widespread soil sampling; drilling; detailed airborne magnetics and electromagnetics; and resource calculations.
  • Bacchus Resources Pty.Ltd. entered into a joint venture with Mincor in early 2017 with the view to drill, increase some resources and have the leases renewed.

Proposed Exploration:

  • Post IPO, the company proposes to initially concentrate resource definition and extension drilling at the Carolina and Mount Royal / Orange Plains resources.
  • Larger diameter “PQ” diamond drilling will be undertaken at both deposits to obtain geotechnical and metallurgical data to assist scoping studies.
  • Exploratory drilling will be used in the Bogan River to King Edward VII area to explore for additional resources in an area of some previous drilling success.
  • Exploratory air-core drilling is planned to test prospective magnetic horizons to the south of the Carolina Deposit and about the Burdenda Prospect. Airborne electromagnetic surveys will be completed over areas currently not covered, particularly for eastward extensions of the Collerina Deposit.

THE TOTTENHAM PROJECT - MOUNT ROYAL DEPOSIT/ OTHER TARGETS

Mount Royal Deposit:

  • Exploration Target – 3.6Mt at 0.9% Cu, 0.26g/t Au for 34kt Cu and 30k oz Au. 
  • Mineralisation occurs in two horizons within the base of the Bogan Schist, dipping to the south.
  • There is significant exploration potential with several walk-up targets identified in the geophysical surveys undertaken.
  • The gold mineralisation has proven to positively correlate with copper mineralisation, providing significant gold credits.

Other Targets:

  • Several historic prospects have been drilled and returned encouraging copper-gold intersections that require further testing. Significant results include:
    • Bogan River – 3m at 18.1% Cu and 8m at 1.5% Cu
    • Underlay – 2m at 3.7% Cu and 4m 1.4% Cu
  • Outside of the known resources there are multiple, poorly tested EM/soil/Magnetic anomalies and tens of Kms of near surface mineralised horizon. This work has been undertaken with follow-up work required.
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